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CBOT rice ends mixed, some speculative buying

CHICAGO: Rough rice futures at the Chicago Board of Trade ended mixed on Wednesday, with nearby contracts supported by speculative and commercial buying.

CBOT rice settled 2 cents per hundredweight (cwt) higher to 15 cents lower, with March up 1 cent at $5.51.

"There was spec buying in the March, and very light selling in new crop September and November," a CBOT trader said.

Another trader said spreading was active, with about 80 contracts done in January/March spreads at 21 cents.

He said Salomon Smith Barney sold about 50 March contracts, while commercial house Term Commodities was a buyer of March.

The trader said about 100 CBOT warehouse receipts were cancelled, indicating that cash prices were higher than futures.

Rice futures volume was estimated by the CBOT at 350 contracts on Wednesday, compared with 418 traded on Tuesday.-Reuters