After four days of declines, Rough Rice is up 0 cents today

After closing the previous trading day at $15, CME Rice is up to $15 per cwt, which makes for a move of 0.23%/0 cents today.

United States ISM Manufacturing PMI (Jun) is next today at 14:00 UTC.

Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Japanese candlestick formations show 'Bullish Harami' is a candlestick chart indicator used for detecting reversals in an existing bear trend. It is generally indicated by a small price increase that's contained within a broader downward price movement and is commonly associated with a bearish trend coming to an end. Analysis based on the asset volatility indicates that CME Rice's lower Bollinger Band® is at $14.92, indicating that the market is oversold and fertile for new buyers.

With market volatility ebbing, the current technical outlook indicates the Rough Rice future will remain range-bound for the immediate future.

This rally in CME Rough Rice's price coincides with other Grains as Soybeans gained 2.79% and is currently trading at $1,380.75. Having closed the previous session at $494.75, Corn is up 0.66% today to currently trade at around $498.

Elsewhere, United States ISM Manufacturing PMI (Jun) will be released today at 14:00 UTC.

CME Rice is now trading 15.22% below its 3-month high of $18.49.