February 26 CBOT brown rice on Editorial: late surge to close up

Beijing DELHI, February 27 news: February 26, the Chicago Futures Exchange (CBOT) Brown rice market closed steady rise, reversing early losses. However, brown rice this week, the market down.

As of closing, CBOT brown rice rose 11 cents to 14.50 cents range, which in March contract rose 13 cents to 1343 cents / cwt; May contract rose 12 cents to 1376 cents / cwt ; July contract rose 10.50 cents to 1404 cents / cwt.

Although the neighborhood pool corn, soybeans and wheat strong, but most of the time brown the same day the market fell. Near the close, driven by a weaker dollar, brown rice markets rebound oscillation.

One dealer said the technical point of view, brown rice market after the recent crash, it should be amended rebound. However, business has been a sell-off, indicating the market reluctant to rise.

Asian rice prices fell, depress the U.S. rice market. One analyst said weakness in the Asian market because Vietnam is the new rice harvest. But while weak prices, the domestic fundamentals situation is not bad.

The international front, the Indian Agriculture Minister Sharad Pawar said that as the winter crop production prospects, he considered that food prices are expected to fall soon.

February 26, brown rice market turnover is estimated at 1,329 in hand.

(Li Lei for reference only)