Rice futures rallied 2 percent at the Chicago Board of Trade on Friday, closing at their highest level in 9-1/2 months due to concerns about adequate world supplies amid crop woes in India. The November rice futures contract settled up 28 cents at $14.36 per hundredweight, its highest close on a continuous basis since January 12. January rice was 28 cents higher at $14.69.
India's MMTC issues first global rice import tender. Ample domestic stocks will help limit India's rice imports - analysts. North Indian rice millers slow down paddy buying. India may import 30,000 tonnes of rice to prevent shortages - government sources. Japan buys 75,000 tonnes of rice from the United States and Thailand. Deliveries against CBOT November rice contract totalled 151 lots; ADM stopped all.