CBOT Rice Review: Rough Rice End Lower Thursday

Rough rice ended lower Thursday as the market swung from strong early gains to equally big losses. Traders said there was aggressive selling of puts in options trade.

They added that the market hit some sell stops in the March contract at $14.28, which sent prices close to $14. The market had rallied early in the session, following another strong week of new export sales, including purchases by Venezuela and Nigeria. March rice ended down 19 1/2 cents to $14.18 per cwt, and May rice ended down 20 1/2 cents to $14.45 1/2.