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Maize ends firmer on local crop concerns

9 Jul 2013

South African maize futures ended the Friday, 5 July 2013, session firmer due to local crop size concerns. Wheat ended firmer as traders played catch-up on Friday after being caught short earlier in the weak.

Image courtesy of Exsodus / FreeDigitalPhotos.net

"We saw some buying interest in the last half an hour of the trading session amid a quiet trading session‚" said Brink van Wyk‚ trader at BVG Commodities in Pretoria.

"White maize closed firmer due to some doubt about the size of the local white maize crop after the drought we had in February and March in local maize growing areas. Yellow maize closed firmer due to brisk exports‚" he said.

"Wheat ended firmer as some traders were caught short in the near-by month of July and they bought wheat‚" he said.

"Volumes were thin today amid quiet trade as the US market has been closed. Prices can show big movements when volumes are low‚" he said.

US markets were closed due to the US Independence Day holiday on Thursday.

July white maize ended R26 firmer at R2‚233 per ton‚ September white maize added R21 to R2‚260 per ton and December white maize closed R24 higher at R2‚305.

July yellow maize rose R30 to R2‚213 per ton‚ the September contract gained R18 to R2‚235 per ton and December yellow maize ended down R20 firmer at R2‚265 per ton.

The July wheat contract added R28 to R3‚523 per ton‚ September wheat was up R15 to close at R3‚460 per ton and December wheat advanced R17 higher to R3‚441 per ton.