US rice futures on the Chicago Board of Trade closed mixed on Wednesday, with nearby contracts modestly lower on profit-taking after the front contract hit a one-month peak. Back months ended higher as old-crop/new-crop spreads unwound, a reversal of Tuesday's trend. CBOT May ended down 1/2 cent at $12.97 per cwt after reaching $13.17, its highest level for May since March 8.
New-crop November ended up 6 cents at $12.84. CBOT estimated Wednesday's volume at 1,087 rice futures and 80 options. USDA lowered its weekly world market price for long-grain rough rice to $10.65 per cwt, from $10.73 a week ago. Philippines says will ink rice deal with Thailand. Easing Asian rice prices likely to attract more buyers.