US rice futures decline

11 Oct, 2009

US rice futures closed lower on Friday on pressure from a firm dollar and an increase by USDA in its forecast for 2009/10 US rice production to 220.6 million cwt from the previous 218.6 million. CBOT November rice down 8 cents per cwt at $13.40. USDA also increased its estimate for US 2009/10 rice ending stocks to 46.6 million cwt from previous 44.6 million. Indonesia may revive rice export plan in 2010. Asia could take lead on GMO rice - FAO.

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