US rice futures slide

Published October 26, 2008

CHICAGO, Oct 25: US rough rice futures on the Chicago Board of Trade plunged on Friday, falling in tandem with other financial and commodity markets amid fears of a global recession, traders said.

November rice closed 29 cents down at $14.41-1/2 per hundredweight.

Volume was moderate estimated at 1,122 futures and 80 options.

Dow industrials closed more than 300 points lower.

A stronger dollar, rising to two-year peak versus a basket of currencies, was also bearish it makes dollar-denominated commodities more expensive in world markets.—Reuters