Rough rice futures at the Chicago Board of Trade closed lower on Wednesday on a profit-taking setback after this week's climb to a near one-month top, traders said. But volume was Very light. September rice closed 5-1/2 cents lower at $6.74-1/2 and November settled 5 down at $6.92. Speculative sales were met by commercial pricing, which helped underpin prices, traders said.
Vietnam selling rice to the Philippines dominated Rice news.
The Philippines bought 150,000 tonnes of Vietnamese rice on Wednesday, bringing its total imports since the start of the year to 15,000 tonnes short of its target of 1.8 million.
The grain is for delivery in August or September, with prices ranging from $268.90 to $279.90 per tonne C&F.
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