Maize futures end mixed in choppy trade

South African maize futures ended mixed on Thursday in fairly choppy trade.

The May 2012 white maize contract was down R10 to R2,322 per ton, July 2012 white maize lost R4 to R2,283 per ton, and September 2012 white maize was unchanged at R2,315 per ton, according to preliminary I-Net Bridge data.

File image. Credit: REUTERS

The May 2012 yellow maize contract was up R1 to R2,195 per ton, while the July 2012 yellow maize contract was unchanged at R2,200 per ton and the September 2012 yellow maize contract dipped R6 to R2,217 per ton.

The May wheat contract slipped R11 to R2,739 per ton, July wheat shed R5 to R2,795 per ton, while the September 2012 wheat contract was unchanged at R2,809 per ton.

Meanwhile, Dow Jones Newswires reported that US soybean futures fell on Wednesday, as market participants took profits amid damped optimism that a months-long rally could further extend its course.

Soybeans for May delivery closed down 4 cents at US$14.22 a bushel at the Chicago Board of Trade.

Market participants were continuing a selloff that began on Tuesday, sparked by disappointment when soybeans hit a seven-month intraday high of $14.52 1/4 but then dropped and settled lower. A US Department of Agriculture supply-and-demand report on Tuesday failed to provide any surprising forecasts to push prices higher.

CBOT May corn closed 1 1/4 cents higher at $6.36 a bushel, helped by concerns about tight current supplies. - I-Net Bridge