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Maize futures weaker after profits taken

22 Jul 2013

Grain futures closed mixed on Friday (20 July)‚ with profit-taking weighing on white maize contracts while a weaker rand buoyed wheat prices.

"White maize reached a favourable level for farmers to start selling their crop‚" PSG commodity broker Wouter Bosch said.

The July white maize contract lost R8 to close at R2‚320 per ton‚ with September white maize flat at R2‚338 per ton and December white maize falling R10 to R2‚365 per ton.

The July yellow maize added R12 to R2‚198 per ton‚ with the September contract rising R7 to R2‚214 per ton and December yellow maize increasing by R7 to R2‚237 per ton.

July Wheat contract rose R22 to R3‚425 per ton‚ with September wheat gaining R12 to R3‚405 per ton‚ and December wheat closing up by R9 to R3‚357 per ton.

Source: I-Net Bridge

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