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Maize futures end mixed after volatile trade

20 Feb 2015

South African maize futures ended mixed on Thursday‚ with white maize coming under intense pressure‚ while the yellow variety mostly held up.

Maize futures end mixed after volatile trade

"The market remains volatile and jittery at this stage‚" Free State-based independent trader Andrew Fletcher said.

"But crop conditions remain challenging‚ with rainfall still scattered and below average."

Grain prices have surged in recent weeks due to the persistent heat wave that is threatening to reduce the size of the expected crop.

The Crop Estimate Committee will give its first production estimate next week.

The maize March 2015 contract slid R80 to R2‚748 a ton‚ with the white maize July 2015 contract tumbling R80 to R2‚776 a ton and the white maize contract for September delivery dropping R74.80 to R2‚805.20.

The yellow maize contract for delivery in March 2015 slipped R2 to R2‚380 a ton‚ but the yellow maize July 2015 contract edged up R14 to R2‚387 a ton. The September 2015 yellow maize contract lifted R55 to R2‚450 a ton.

Wheat futures were also weaker‚ with the March 2015 wheat contract losing R45 to R3‚845 a ton‚ the July 2015 wheat contract dropping R40 to R3‚910 and September wheat slipping R30 to R3‚870.

Source: BDpro

Source: I-Net Bridge

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