Late speculative buying helped prices recover late in the session, with November closing at the day's top.
November rice settled 6 cents higher at $7.24 per hundredweight, with the back months 5 to 6-1/2 cents up.
Refco and Fimat Futures were among the buyers. There was also commercial pricing by Man Financial, which helped the market close higher.
Firms continued to roll their November positions before the start of the delivery period on October 31. The November-January spread traded out to 27-1/2 cents.
The price carry remains at historically high levels due to ample supplies of rice and weakness in the cash markets, traders said.
"No one wants to own warehouse receipts since cash prices are much lower," said one cash-connected trader.
Interest rates are also rising, thus increasing the cost to store rice.
US rough and milled rice markets were quiet due to the lack of buying interest from domestic millers and exporters.
The US rice harvest was basically complete. The US Agriculture Department reported late Monday that 97 percent of the rice harvest was completed.
In export news, the Philippines said it plans to buy 138,000 tonnes of rice annually from Australia, China and Thailand under a new quota agreement starting in January 2006. The world market price for rough rice was unchanged this week at $5.85 per hundredweight, the USDA said late Tuesday.