CBOT Rice Review: Up On Pre-Report Position Squaring

Chicago Board of Trade rice futures finished higher Thursday as position squaring ahead of Friday's U.S. Department of Agriculture planting and stocks data underpinned prices.

May rice gained 9 1/2 cents to $10.14 1/2 per hundredweight and November rose 10 cents to $11.04. The market was firm all day on pre-report position squaring.

Floor traders said expectations are for rice planted acres to decline 6% to 8% in 2007 but that the recent ban on Clearfield 131 rice seed would cloud the issue until the June acreage report is released.