CHICAGO─Rice prices have risen more than 10 percent over the past three weeks as supplies are limited due to delayed harvests caused by Hurricanes Gustav and Ike.
“The Chicago Board of Trade November rice futures contract settled at $20.04 per hundredweight Tuesday, up 33 cents. The spot contract has risen 10.4 percent from the $18.15 posted on Sept. 2, after Hurricane Gustav entered the Gulf of Mexico on Aug. 30,” Reuters reported.
"Yields are good; they are not as good as they were last year," Extension Rice Specialist Nathan Buehring told Reuters."We were delayed in planting this year. We started off behind just due to some of the excessive wet weather and we are trying to get caught up, but we have still got a ways to go."
