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CBOT rice

closes lower

CHICAGO: A weak tone in nearby cash markets, including a soft market for Asian supplies, pressured CBOT rice futures to a lower close, traders said.

"There are ideas the Asian values are coming off and the U.S. milled rice business is slow," a trader said.

They said major support in the July contract was seen at $9.45 to $9.60 per cwt.

Rice prices continue to find support from strong gains in other commodities especially wheat, corn and soybeans, the traders said.

Rice closed four to six cents lower, with May down six at $9.53 per cwt.-Reuter