In an agrarian society like the Qing Dynasty of China, grains were the most important commodities in domestic trade in which food consumption made up more than half of the average household budget. Grain prices were therefore the leading indicator in the market. A clear knowledge of their trends and behavior patterns will provide a key to understanding the state of economy and society during that time. The Yangzi delta was the center of economic activity in late imperial China. We conduct a time series analysis of the prices of rice for Suzhou Prefecture which is the principal grain market in the delta. The decomposition model is chosen for studying the seasonal variations, the trend movements, the cyclical fluctuations and the irregularity in the grain prices. Specifically, the statistical methods, including regression analysis, Analysis OfVAriance(ANOVA) for two-way classification without replications, periodogram and AutoRegrssive Moving Average(ARMA), are all used. The pattern or systematic changes may reflect conditions of inflation, deflation, or crises of major proportion. Preliminarily, nonparametric regression is used for imputing the missing part in the original data for subsequent analysis. Once the modeling is done, an iterative procedure can be applied for smoothing the missing data and the results of consequent analysis may be used for evaluating the model fitness. The conduction results are generally consistent with the conclusions of Wang (1990) and indicate that a distinct 26-year cycle shown in this data set is invaluable for further study.