After eight days of declines, the Rough Rice future is up 5.5 cents today

After closing the previous trading day at $15.26, CME Rice is up to $15.31 per cwt, which makes for a move of 0.36%/5.5 cents today.

CME Rough Rice is currently trading at $15.31 following the release of Initial Jobless Claims data from the United States.

CME Rough Rice upside coincides with further encouraging market factors as highly important Retail Sales data from United States beat analyst expectations of -0.1% with a reading of 0.3%.

Nevertheless, new United States Initial Jobless Claims data fell short of the 250,000 projected by analysts with a reading of 262,000 while failing to improve upon the previous reading from last month (262,000).

At the same time, United States Philadelphia Fed Manufacturing Index (Jun) released today at 12:30 UTC with a figure of -13.7, while the previous figure was -10.4.

The MACD index is indicating that momentum is shifting from bearish to bullish following a positive crossover. When the MACD rises above the signal line, it is typically considered to be a bullish development favoring long positions.

Examining the technical analysis landscape, Rough Rice might continue its downtrend in the short term.

A look at other Grains also shows upside as Corn surges 4.42% to trade around $573.5. Having closed the previous session at $1,240, Soybeans is up 4.21% today to currently trade at around $1,292.25. Having closed the previous session at $396.75, Oats is up 3.78% today to currently trade at around $411.75.

Rough Rice hit a significant low of $14.81 around 14 days ago, but has since recovered 2.97%.