Chicago Board of Trade rice futures ended sharply lower Tuesday, with deferred contracts falling the expanded daily limit as the market continued to retreat following a recent rally.

Nearby May rice, which was trading without limits ahead of first notice day Wednesday, closed down 71 cents at $22.59 per cwt after hitting a session low of $21.59 1/2. July rice ended limit down, or 75 cents lower, at $22.93.