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CBOT rice ends mixed in thin local dealings

CHICAGO: Rough rice futures at the Chicago Board of Trade closed mixed on Wednesday with light local buying near the day's lows underpinning the market, traders said.

Rice closed 1 cent per cwt higher to 6 lower, with March up 1 at $5.46. May was unchanged at $5.70.

"There was some early selling that was carried over from yesterday's market but locals were buyers at the day's lows," a trader said.

Traders said the large supply of rice worldwide continues to stymie attempts to rally prices but the current low prices of rice also have been keeping away aggressive selling interest.

"There was some commercial buying as well but it was widely scattered and there was no one standout player," the trader said.

Rice futures volume was estimated by the CBOT at 220 contracts, compared with 541 lots traded Tuesday. -Reuters