Chicago Board of Trade rough rice futures settled lower on Friday as speculative selling triggered technical sell stops in the nearby July contract, brokers said.
CBOT agricultural markets will be closed on Monday in observance of the US Memorial Day holiday.
"The market traded lower during the first hour on speculative sales following a weak technical close yesterday," one broker said. "There were about 200 to 250 sell orders on stops below $10.34 in the July."
Rough rice settled down 5 cents to 18 cents per cwt, with July down 18 cents at $10.17 and September rice down 5 cents at $9.00.
Commercials Man Financial and R.J. O'Brien were scale-down buyers during Friday's open outcry session, a rice trader said.
"There was scattered liquidation throughout the day, but it was very slow," he said. "It really felt like a holiday market."
CBOT rough rice estimated volume on Friday was 385 contracts, compared with Thursday's volume of 316 lots. Options trade totalled 133 lots.
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