Grain futures mostly lower on firmer currency

South African grain futures were mostly lower on Friday, 2 May, tracking a stronger local currency.

On Wednesday the rand traded in the range of R10.54 - R10.56 to the dollar. On Friday‚ the currency ticked down as low as R10.47 to the greenback. At 12.36pm‚ the rand was trading at R10.5096 from a close of R10.4918.

"The market remains very quiet. Prices for most grains have lowered on the firmer rand‚" a local trader said.

At the close of market‚ the July white maize contract was down by R36 to R2‚032 a ton and the September 2014 contract softened R35 to R2‚080 a ton. The December contract lowered R28 to R2‚145 a ton.

The July 2014 yellow maize contract fell by R29 to R2‚138 a ton with the September 2014 contract falling R25 to R2‚181 a ton. The December contract was down R22 to R2‚230 a ton.

Wheat for delivery in July 2014 rose R15.20 to R4‚011.20 a ton and wheat for delivery in September lost R22 to R3‚935 a ton. Wheat for deliver in December 2014 lowered R3.80 to R3‚861.20 a ton.

Concerns about supply disruptions in Ukraine have eased with most already priced in.