Rice Prices Spike to Highest Level Since 2011 – The Wall Street Journal

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Rice futures spiked to their highest level in nearly nine years after the global pandemic boosted shoppers’ demand for the grain.

One measure of prices has soared 47% in the last two weeks to touch its highest level since November 2011, making rice one of the fastest-climbing major commodities in the recent market rally. Front-month rough rice futures on the CME traded as high as 23.565 cents per hundredweight Friday before giving up some of that gain in recent sessions. The front-month contract closed at 17.57 cents per cwt…

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