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Maize futures track US markets higher

July 2 2012 at 04:49pm

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Maize

Reuters.

South African maize futures ended firmer on Monday‚ tracking corn prices on the Chicago Board of Trade‚ amid dry weather conditions in the US.

The near-dated July white maize contract was up R48 to R2‚198 a ton‚ September white maize gained R43 to R2‚241 a ton and December white maize garnered R47 to R2‚300 a ton‚ according to preliminary I-Net Bridge data.

The near-dated July yellow maize contract rallied R49 to R2‚177 a ton‚ the September yellow maize contract lifted R42 to R2‚216 a ton and the December yellow maize contract climbed R48 to R2‚270 a ton.

The July wheat contract edged up R14 to R3‚185 a ton‚ September wheat inched up R7 to R3‚240 a ton and the December wheat contract was up R10 to R3‚150 a ton.

US grain and soybean futures climbed on Monday‚ continuing to rally on stressful US Midwest weather‚ Dow Jones Newswires reported.

Traders are adding to their bullish bets in the face of yield robbing heat and dryness tightening US and world supplies‚ analysts said.

Investors are also bracing for government forecasters to report another weekly loss in crop condition ratings. - I-Net Bridge


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