According to a senior maize trader, with the harvest period complete, the local fundamentals were supportive of the crop in the near term. "Given the low maize deliveries," she said, "the key question everybody is asking is where the crop is being held up, with the harvest period complete".
According to Dow Jones Newswires, futures climbed higher Thursday, led by a rally in wheat prices on expectations that government forecasters will cut their production outlook on Friday. In an annual crop report, the government is said to slice its estimate for the spring wheat harvest due to stressful summer heat and spring rains that prevented planting.
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