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CBOT rice

futures down

CHICAGO: CBOT rice futures closed lower in response to a USDA crop report showing a potential jump in U.S. rice production, traders said on Friday.

USDA Friday pegged 1995 rice production at 185.2 million cwt, up from the July forecast for 178.0 million.

But the declines were limited by the government's outlook for 1995-96 U.S. ending rice stocks at 30.4 million cwt, up only modestly from the July estimate for 29.1 million cwt.

USDA hiked its outlook for U.S. rice exports to 91.0 million from the previous 86.0 million cwt a move that slowed bearish momentum.

Rice closed three to five cents per cwt lower, with September down four at $7.94 per cwt.-Reuter