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Maize futures follow Chicago higher

June 20 2012 at 03:29pm

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Maize

Reuters.

South African maize futures ended firmer for the second straight session on Wednesday‚ taking their cue from the firmer Chicago corn prices.

The near-dated July white maize contract was up R11 at R2‚061 a ton‚ September white maize gained R18 to R2‚102 a ton and December white maize rose R12 to R2‚152 a ton‚ according to preliminary I-Net Bridge data.

The near-dated July yellow maize contract inched up R2 to R2‚020 a ton‚ the September yellow maize contract edged up R11 to R2‚055 a ton and the December yellow maize contract picked up R5 to R2‚100 a ton.

The July wheat contract garnered R2 to R2‚938 a ton‚ but September wheat lost R2 to R2‚987 a ton and the December wheat contract added R8 to R2‚950 a ton.

US soybean futures closed sharply higher on Tuesday‚ jumping on worries about dry weather damaging crops while export demand remains strong‚ Dow Jones Newswires reported.

Soybeans for July delivery settled up 3.6%‚ at $14.33-3/4 a bushel on the Chicago Board of Trade.

Corn futures also closed higher‚ boosted by a decline in the crop’s condition rating in the US agriculture department report this week‚ and by concern that hot and dry weather could further stress the crop.

July corn rose 2.2%‚ to $6.12-1/2 a bushel. - I-Net Bridge


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