Fried Rice!

Fried Rice! A bearish USDA quarterly rice stocks report weighed heavily on Rough Rice futures today, with the most active November hitting five-month lows. This morning's report announced that Rice stocks are up 18% this year, with all Rice stocks totaling 37.4 million hundredweight as of August 1st. Floor sources deemed the report bearish, and the market agreed, plunging on speculative liquidating and triggering sell-stops as prices moved through support at 9130.00. The Rice market was already reeling from concerns that a small amount of genetically modified long-grain rice was found in some storage bins in Missouri and Arkansas. Read More....