Full steam ahead for the Rough Rice future as 3 days uptrend continues

3 days and 83.5 cents of gains were not enough. Heading in the same direction for now — after closing the previous trading day at $17.34, Rough Rice is up to $17.41 per cwt, which makes for a move of 0.4%/7 cents today.

United States Initial Jobless Claims data will be released today at 12:30 UTC, with an expected decline to 232,000.

CME Rice upside coincides with further encouraging market factors as highly important Crude Oil Inventories data from United States beat analyst expectations of -583,000 with a reading of 597,000.

Meanwhile, United States Consumer Price Index came out at 0.1%, while a consensus of analysts was expecting 0.2%. United States Consumer Price Index released yesterday at 12:30 UTC with a figure of 5%, while the previous figure was 6%.

A look at other Grains also shows upside as Soybeans increases 0.78% to trade around $1,483.75.

Other Grains are showing mixed performance as Corn trades close to $628.75, with no major change.

Moreover, macro data could boost sentiment further as United States Producer Price Index is projected to outperform its last figure with 0.1%. It previously stood at -0.1%; data will be released today at 12:30 UTC.

Furthermore, the market is looking at tomorrow at 12:30 UTC data for United States Core Retail Sales will be released, with an expected decline to -0.3% from the preceding figure of -0.1%. As things stand, upcoming United States Initial Jobless Claims data is projected to fall short of market expectations with newly published data of 232,000, following on from the preceding figure of 228,000. New data is set to be published today at 12:30 UTC.

CME Rough Rice reached a significant high of $18.49 around 2 months ago but has lost 6.25% since then.