US rice futures on the Chicago Board of Trade fell on Monday, setting back from last week's rally due to a stronger dollar, spillover selling from other commodities and good crop growing weather, traders said. July rice settled 33-1/2 cents lower at $12.44 per cwt, after hitting a two-week top last week on strong technicals. More active September closed 37 down at $12.52.
Overall volume thin, estimated at 444 contracts, 30 options. Stronger dollar raises the cost of US rice to overseas buyers. After CBOT closed, USDA reported 55 percent of US rice crop was good to excellent, unchanged from last week but below a year ago when 69 percent was good to excellent. Egypt doubles export duties on rice.