Local grains rise on weaker rand

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The local currency slumped to an intraday weakest level of R10.7343/$‚ following political tension in Turkey‚ which sent the Turkish lira to a record low against the greenback.

Analysts said the expected effects of reduced US monetary stimulus were also weighing on the rand.

By the market close‚ the March 2014 white maize contract gained R64.80 to R2‚ 983.80 a ton‚ the 2014 white maize July contract rose R42 to R2‚270 a ton and September 2014 white maize lifted R46 to R2‚304 a ton.

The March 2014 yellow maize contract closed R37 higher at R2‚793 a ton‚ with July 2014 yellow maize edging up R33 to R2‚183 a ton and September yellow maize adding R43 to R2‚226 a ton.

The March 2014 wheat contract finished R12 firmer at R3‚684 a ton and July 2014 wheat rose R22 to R3‚775 a ton.