Maize futures softer ahead of report
Maize futures ended weaker for third time in a row on Monday (27 August 2012)‚ in line with US prices‚ and as traders awaited the 2011-12 final summer crop estimates on Tuesday.
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The near-dated September white maize contract shed R39 to R2‚637 a ton and the December white maize contract closed R39 softer at R2‚703 a ton. The March 2013 white maize contract lost R45 to R2‚695 a ton.
The near-dated September yellow maize contract shed R24.20 to R2‚648.80 a ton‚ the December yellow maize contract lost R26 to R2‚678 a ton and the March 2013 yellow maize lost R19 to R2‚670.
The September wheat contract was down R30 to R3‚500 a ton‚ the December wheat contract shaved off R7 to R3‚542 a ton and the March 2013 wheat contract was R3 softer at R3‚605 a ton.
In the US‚ Dow Jones Newswires reported‚ corn futures ended lower on Friday‚ pressured by traders taking profits on recent advances.
"Traders have absorbed all the supply issues for US crop production‚" said Dave Marshall‚ an independent marketing adviser.
Record maize prices in the US have cooled demand for the grain.
