After closing the previous trading day at $16.04, CME Rice is up to $16.46 per cwt, which makes for a move of 2.68%/43 cents today.
The Rough Rice future is currently trading at $16.46 following the release of U.S. President Biden speech data from the United States.
Meanwhile, United States Participation Rate (Feb) released today at 13:30 UTC with a figure of 118.3, while the previous figure was 62.4.
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.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest CME Rough Rice is set for a reversal in the coming days.
This rally in Rough Rice's price coincides with other Grains as Oats is up 1.38% to $347.75.
Though CME Rice is going up, other Grains are underperforming — Soybeans decreases 0.59% to trade around $1,504.
Elsewhere, United States Consumer Price Index figure is projected at 0.4%. It previously stood at 0.5%; data will be released tomorrow at 12:30 UTC. United States Consumer Price Index is expected tomorrow at 12:30 UTC. United States Core Consumer Prices is expected tomorrow at 12:30 UTC.
CME Rough Rice has fallen back around 13.28% over the past a month, from a notable high of $18.49.