US rice futures on the Chicago Board of Trade fell to a three-month low on Tuesday on a firmer dollar and diminishing concerns about global supply shortages, traders said. But market partially recovered and closed above its lows of the day. Dollar hit a one-month top versus euro, making grains and other US goods less competitive on the world market.

CBOT March rice settled down 5-1/2 cents at $13.92 per hundredweight after dipping to $13.70, lowest level since October 7, 2009; back months ended down 1-1/2 to 5 cents. CBOT estimated volume Tuesday at 832 rice futures and 40 options. Manila says Thailand offers to sell 1 million tonnes rice. Thailand to sell 375,000 tonnes rice from stocks.

Copyright Reuters, 2010