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May 18, 2023
Rough Rice is down to $17.39 per cwt, after ending yesterday at $17.51. Overall, a 0.71% loss or 12.5 cents today.
Rough Rice is currently trading at $17.39 following the release of Existing Home Sales (Apr) data from the United States.
On the flip side, positive data for Rough Rice released earlier when United States Initial Jobless Claims beat analyst expectations of 254,000 and the previous reading of 264,000 with new data of 242,000.
Amid the market gloom, United States Existing Home Sales (Apr) came out at 4.28 million, while a consensus of analysts was expecting 4.3 million. United States Philadelphia Fed Manufacturing Index (May) released today at 12:30 UTC with a figure of -10.4, while the previous figure was -31.3.
Taking a look at other Grains commodities, negative performances are evident as Corn stumbles 0.8% to trade around $557. After ending yesterday's session at $343, Oats lost $2.25 and is trading around $340.75.
Though CME Rough Rice has been dropping, other Grains have been performing better: Soybeans rises 0.5% to trade around $1,343.75.
Furthermore, United States Fed Chair Powell speech will be released tomorrow at 15:00 UTC.
Having soared to a high of $18.49 approximately 3 months ago, the Rough Rice future is now trading 5.3% lower.
