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The CBOT September rough rice contract traded in narrow ranges and resisted rising above $13.60 in the week ending June 4. Open interest rolled from the July contract into September, and the U.S. crop was rated 74% good to excellent.
Traders are watching the June 10 WASDE and the June 30 acreage report.
Expectations of lower U.S. rice acreage given high corn and soybean prices could support rice prices. Until the June 30 acreage report, the market is likely to stay range-bound.
ricefarming.comVickyJun 5, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
