CBOT Rice Futures : At the crossroads after recent spike.

CBOT Rice futures spiked to US$ 17.51 a few days ago but are currently at the crossroads, with a daily close below 16.50 likely to see a spike down to nearer 16.20, if not the more significant support at 15.50-15.60.

A risk on trade across the commodities board is however possible, so if rice breaks and holds above 17.37 anytime soon, the grain could be in for a move to 17.8-17.9 if not higher.

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