Chicago Board of Trade rice futures surged Tuesday to the exchange's expanded daily limit to hit new record highs on concerns about U.S. planting delays and global tightness.

May rice closed with the 75-cent limit gain at a new high of $22.17 per cwt, surpassing the previous high of $21.90 set overnight. July rice climbed 75 cents to a record $22.49, topping its overnight high of $22.22.