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CBOT rice ends lower on commercials, grain slide

CHICAGO: Rough rice futures at the Chicago Board of Trade ended lower on Monday amid commercial selling and in sympathy with other CBOT grain markets.

CBOT rice settled 9 to 10 cents per hundredweight (cwt) lower, with May off 9 cents at $5.82.

"There was some early selling by (ED&F) Man and locals. The declines were also in sympathy with the other markets," a CBOT trader said.

Corn, wheat and soy complex futures slumped amid improved weather in the U.S. Midwest and Great Plains growing regions and forecasts for more through this week.

The trader said Term Commodities was a buyer in the May contract at the lows, while Rosenthal Collins was a steady seller in new crop months.

In other news, the Philippines' state trading firm National Food Authority bought 41,000 tonnes of Chinese rice overnight.

Rice futures volume was estimated by the CBOT at 400 contracts, compared to 519 traded on Friday.ÑReuters