Chicago Board of Trade rice futures settled moderately lower in light trading Wednesday as speculative fund selling pressured prices in early trade.

May rice fell 13 cents to $10.23 cents per hundredweight and November also dropped 13 cents to $11.11. March rice went off the board at $10.03, down 7 cents.

Scattered talk that rice plantings could be higher than previous ideas weighed on the market, with fund selling pushing prices lower near the start of the session.