CBOT rice closes higher on technical bounce .
CHICAGO 1996-08-26
CBOT rice futures closed higher on a technical bounce tied to signs the market was oversold , traders said .
" It rallied on ideas the market was oversold , " a trader said .
Traders said the U.S. cash market remains well above the benchmark Thai price which limited gains .
Rice futures volume was estimated at 450 contracts , up from 202 Friday .
Rice options volume was estimated at 50 contracts , down from 56 Friday .
Rice futures closed 13 to 16 cents per cwt higher , with September up 16 at $ 10.28 a cwt .
Sam Nelson 312-408-8721