CME Rice trades at $16.9 per cwt, after ending yesterday at $16.91.
United States Crude Oil Inventories is next.
Uncertainty around the Rough Rice future is reflected by published market data as United States Building Permits (Mar) released yesterday at 12:30 UTC with a figure of 1.41 million, while the previous figure was 1.55 million. United States API Weekly Crude Oil Stock came out at -2.67 million, while a consensus of analysts was expecting -2.46 million. Housing Starts in United States fell short of market expectations (0.4%) with a reading of -0.8%, continuing the decline from the previous figure of 7.3%.
Japanese candlestick formations show 'Bullish Harami' is a candlestick chart indicator used for detecting reversals in an existing bear trend. It is generally indicated by a small price increase that's contained within a broader downward price movement and is commonly associated with a bearish trend coming to an end.
Meanwhile, mixed performances are seen in other Grains as after ending yesterday's session at $644.5, Corn lost $4.25 and is trading around $640.25.
Moreover, United States Crude Oil Inventories projected to decline to -1 million while previous data was 597,000; data will be released today at 14:30 UTC. United States Philadelphia Fed Manufacturing Index (Apr) is scheduled for tomorrow at 12:30 UTC. United States Existing Home Sales (Mar) scheduled to come out tomorrow at 14:00 UTC.
The Rough Rice future has fallen back around 8.55% from the significant high of $18.49 set 2 months ago.