White maize down on stronger rand

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MaizeCobField REUTERS

Johannesburg - South African white maize closed down on Thursday due to a stronger rand‚ while yellow maize gained on improved international demand. Wheat was firmer on higher Chicago Board of Trade (CBoT) figures.

“The stronger rand was bearish for yellow maize and the size of our crop is bigger than previously estimated‚ which also contributed to lower prices. Yellow maize managed to close higher‚ because there is more export demand for yellow maize than for white. Wheat rallied on higher US prices‚” a local trader said.

The white maize contract for March 2013 delivery lost R17 to R2‚116 per ton‚ the white maize contract for July 2013 also gave back R17 to R2‚003 per ton and the white maize contract for September 2013 dipped R12 to R2‚038.

The yellow maize contract for March 2013 added R6 to R2‚275 per ton and the July 2013 yellow maize contract gained R3.20 to R2‚053.20 per ton. The yellow maize contract for September 2013 added R10 to R2‚090 per ton.

The wheat contract for March 2013 lifted R17 to R3‚660 per ton and the July 2013 wheat contract surged R49 to R3‚770 per ton. - I-Net Bridge

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