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CBOT rice ends higher as wheat, soybeans climb

CHICAGO: Rough rice futures at the Chicago Board of Trade ended higher on Friday, lifted by continued gains in neighbouring wheat and soybean pits, traders said.

CBOT rice settled 3 to 8 cents per hundredweight (cwt) higher, with March contracts up 5 at $5.48.

CBOT soybeans gained at least 6 cents a bushel in most contracts and ended near three-month highs, while wheat posted modest advances.

The gains in wheat and soybeans allowed rice to rise in sympathy, as there was little other fundamental guidance, traders said.

The rice market also drew continued support from stronger government export readings Thursday and lower supply forecasts released Wednesday by the US Department of Agriculture.

Rice futures volume in Friday's pit session was estimated by the CBOT at 400 contracts. -Reuters