CBOT Rice Review: Modestly Lower On Spillover Selling

Chicago Board of Trade rice futures settled modestly lower Friday, unable to sustain any momentum from the U.S. Department of Agriculture rice planting and stocks reports.

May rice declined 6 1/2 cents to $10.08 per hundredweight and November slipped 2 cents to $11.02. Trading was active and two-sided early in the session with the USDA estimating 2007 U.S. rice planted acreage at 2.644 million acres, lower than the 2.838 million planted in 2006.