US rice up

Published September 21, 2008

CHICAGO, Sept 20: Rough rice futures on the Chicago Board of Trade settled higher on Friday, led by strength in other commodities, as a US government rescue plan eased concerns about the financial sector, traders said.

November rice settled 41 cents higher at $19.21 per hundredweight; back months ended up 37 to 40-1/2 cents.

November rose the daily limit of 50 cents before easing. CBOT corn, wheat. Additional support stemmed from US harvest delays that kept cash markets firm after recent tropical rains saturated rice areas in the Southeast.—Reuters

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