Rough Rice is down 14.81%, trading at $15.07 per cwt

CME Rice is down to $15.07 per cwt, after ending Friday at $17.69. Overall, a 14.81% loss or $2.62 today.

United States Services PMI is next today at 13:45 UTC.

Trend and momentum analysis indicates 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. According to momentum evaluation, the Relative Strength Index indicates the Rough Rice future is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. According to asset volatility analysis, Bollinger Bands® shows an indication of recovery: the lower band is at $15, a low enough level to, generally, suggest that CME Rice is trading below its fair value.

All in all, the technical analysis suggests CME Rough Rice has no clear-cut direction.

In the meantime, negative performances are also seen in other Grains as after ending Friday's session at $1,352.5, Soybeans lost $160 and is trading around $1,192.5.

Though CME Rice has been dropping, other Grains have been performing better: Corn is up 1.2%.

Furthermore, United States Services PMI is expected today at 13:45 UTC. United States ISM Non-Manufacturing PMI (May) is scheduled for today at 14:00 UTC. United States EIA Short-Term Energy Outlook scheduled to come out tomorrow at 16:00 UTC.

Having set a significant low of $14.81 4 days ago, the Rough Rice future is trading 19.41% higher.