After five days of going up, CME Rice is down 9.5 cents today

Rough Rice is down to $17 per cwt, after ending yesterday at $17.09. Overall, a 0.5% loss or 9.5 cents today.

Pending Home Sales data from United States will be released today at 14:00 UTC with analysts expecting a decline to 0.5%. Potentially significant price fluctuations in the Rough Rice future are expected to follow.

GDP in United States fell short of market expectations (two) with a reading of 1.1, continuing the decline from the previous figure of 2.6. United States Crude Oil Inventories published yesterday at 14:30 UTC came out at -5 million, falling short of the -1.49 million projections and continuing its decline from the previous -4.58 million figure.

In contrast, positive data for the Rough Rice future reported earlier when United States Initial Jobless Claims came out at 230,000, better than analyst estimates of 248,000 and improving upon the previous reading of 246,000.

In the meantime, negative performances are also seen in other Grains as Corn is down $7 from the beginning of the session and now trades around $594.

Looking ahead, ongoing depreciation may be prolonged as today at 14:00 UTC data for United States Pending Home Sales will be released, with an expected decline to 0.5% from the preceding figure of 0.8%.

Furthermore, United States Core PCE Price Index (MoM) (Mar) scheduled to come out tomorrow at 12:30 UTC.

The Rough Rice future has fallen back around 7.54% over the past 2 months, from a notable high of $18.49.