CHICAGO (Commodity Online): US Rice futures finish lower on profit-taking as traders continued taking money off the table after the market reached a 2 1/2-year high Tuesday.
Nervousness about deadlocked talks to raise the US debt limit accelerated losses, traders say. Rice felt additional pressure from the International Grain Council’s estimate that global rice output could rise 1.6% in 2011-12 to a record 457M metric tons.
CBOT September rice slides 27 1/2c to $16.11 1/2 per hundredweight.
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