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CBOT rice ends higher on commercial buying

CHICAGO: Rough rice futures at the Chicago Board of Trade ended higher on Monday, supported by commercial buying, CBOT traders said.

CBOT rice futures settled 3 to 9 cents per hundredweight (cwt) higher, with January up 9 at $5.23.

"We saw some commercial buying at the open and that helped to keep the market on the plus side," one CBOT trader said. He added that Term Commodities was a featured buyer in the March.

He said speculative selling was also noted early in the session, but could not break the market on the first trading day of this year.

The rice market also managed to buck the trend in other pits that ended lower, led by sharp falls in soybeans.

Rice futures volume was estimated by the CBOT at 275 contracts on Monday, compared with 196 traded on Thursday.-Reuters