Rough Rice To Average US$14.50/cwt In 2012

We hold a bearish bias in the short term as momentum indicators have lost significant steam and suggest further downside is on the cards. Moreover, the ongoing slide in CBOT grain prices will likely drag on rice prices.We currently see the US$16.00/cwt as a significant resistance-turned-support level, a break of which would see us target the next support level at

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