After three days of going down, CME Rice is stable today, trading around $16.62

CME Rice trades at $16.62 per cwt, after ending yesterday at $16.61.

United States Pending Home Sales didn't cause a noticeable effect even though it falls short expectations with 0%.

This uncertain state for CME Rice is reflected by published market data as United States Pending Home Sales released earlier showed a marked improvement to 0% from the preceding data of -5.2%, but fell short of the 0.5% figure forecast by a consensus of market analysts. Data for United States GDP released today at 12:30 UTC is better than expected with 1.3, but worse than previous figure of 2.6. United States Initial Jobless Claims released today at 12:30 UTC is better than expected at 229,000 but down from preceding data of 225,000 according to new data.

Trend-focused traders would be interested to note that 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. Analysis based on the asset volatility indicates that CME Rough Rice's upper Bollinger Band® is at $18.94 and the lower is $16.41.

Overall, technical indicators suggest CME Rough Rice has no obvious direction for the immediate future.

Meanwhile, mixed performances are seen in other Grains as having closed the previous session at $329.75, Oats is up 3.56% today to currently trade at around $341.5. Corn trades around $589.25, with no major change.

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States Core Durable Goods Orders projected to come out at 0% — worse than previous data of 0.2%; data will be released tomorrow at 12:30 UTC. United States Core PCE Price Index (MoM) (Apr) is expected tomorrow at 12:30 UTC.

Having soared to a high of $18.49 approximately 3 months ago, CME Rice is now trading 10.14% lower.