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U.S. rice tumbles on better crop outlook; soybean up

Thu May 15, 2008 7:12pm EDT
 
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SEOUL (Reuters) - U.S. rice futures continued their slide in early Asian trading on Friday, as easing concerns about tight global supplies prompted more selloffs.

U.S. rough rice futures for July delivery RRN8 dropped 3.3 percent, or 68 cents, to $19.66 per hundredweight after falling by their daily limit for the third straight day.

Soybean and corn futures opened higher on concerns of an extended strike by Argentine farmers over grain export taxes.

(Reporting by Miyoung Kim; editing by Jonathan Hopfner)

 

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