Maize futures firmer at the close

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Maize prices ended firmer on Tuesday‚ tracking grain prices on the Chicago Board of Trade.

The near-dated August white maize contract was up R36.80 to R2‚770.80 a ton and the September white maize contract lifted R41.80 to R2‚800.80 a ton. December white maize rose R47 to R2‚865 a ton.

The near-dated August yellow maize contract jumped R67 to R2‚796 a ton‚ the September yellow maize contract rose R61 to R2‚811 a ton and the December yellow maize contract gained R51 to R2‚838 a ton.

The August wheat contract was unchanged at R3‚520 a ton‚ with the September wheat contract also unchanged‚ at R3‚563 a ton‚ while the December wheat contract rose R8 to R3‚555 a ton.

US soybean futures rose on Tuesday‚ boosted by forecasts for hot temperatures and only scattered showers‚ further fuelling concern about drought damage to the crop‚ Dow Jones Newswires reported.

But US corn and wheat prices had more modest gains as unfavourable weather now will affect soybeans more than the US corn crop‚ while the latter may face psychological resistance to passing its record front-month high.

Dry and hot weather conditions in some parts of the US have been the primary reason for the surge in South African maize prices recently. - I-Net Bridge

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