Maize futures end mostly positive

South African maize futures ended mostly higher on Monday, taking their cue from firmer world corn prices.

The near-dated July 2012 white maize contract gained R11 to R2,050 per ton, September 2012 white maize edged up R5 to R2,084 per ton, and December 2012 white maize inched up R1 to R2,127 per ton, according to preliminary I-Net Bridge data.

File image. Credit: REUTERS

The near-dated July 2012 yellow maize contract was up R15 to R2,027 per ton, but the September 2012 yellow maize contract slipped R4 to R2,050 per ton and the December 2012 yellow maize contract inched up R2 to R2,092 per ton.

The July wheat contract garnered R33 to R2,962 per ton, the September wheat added R25 to R3,006 per ton and the December 2012 wheat contract lifted R36 to R2,980 per ton.

US wheat futures jumped on Friday as weather forecasts rekindled concerns about dryness in key production regions, including the former Soviet Union and the Great Plains, Dow Jones Newswires reported.

Chicago Board of Trade futures for July delivery closed up 2.6%, at US$6.80 a bushel.

Wheat futures surged two weeks ago as concerns grew about dry weather in wheat producing countries including Russia, Ukraine, Kazakhstan, Australia and China.

Corn futures also closed mostly higher, lifted by wheat's gains.

CBOT July corn settled flat at $5.78 1/2 a bushel, while December corn rose 6 1/2 cents to $5.21 1/2 a bushel. - I-Net Bridge