Maize futures end weaker

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South African maize futures ended weaker on Wednesday‚ tracking corn prices on the Chicago Board of Trade (CBOT).

The near-dated July white maize contract shed R36 to R2‚010 per ton‚ September white maize lost R30 to R2‚049 per ton‚ and December white maize was down R27 to R2‚100 per ton‚ according to preliminary I-Net Bridge data.

The near-dated July yellow maize contract dropped R43 to R1‚990 per ton‚ the September yellow maize contract was off R26 to R2‚029 per ton‚ while the December yellow maize contract lost R35 to R2‚058 per ton.

The July wheat contract was down R38 to R2‚922 per ton‚ September wheat lost R33 to R2‚985 per ton and the December wheat contract dipped R33 to R2‚940 per ton.

The US Department of Agriculture (USDA)‚ in a monthly supply-and-demand report‚ raised its forecast of world corn production by 0.4% to 949.9 million metric tons‚ due to higher projected output in China‚ the European Union and the former Soviet Union.

CBOT July corn fell 8 cents‚ or 1.4%‚ to US$5.84 a bushel on Tuesday‚ Dow Jones Newswires reported.

Wheat futures also closed lower‚ as the USDA forecast tighter wheat supplies than previously expected‚ but its estimates didn't contain any major surprises. - I-Net Bridge

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