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Grains little changed amid low volume trade

17 Apr 2015

South African grain futures closed little changed on Thursday in low volume trade as market participants await the kick-off of the maize harvesting season...

Grains little changed amid low volume trade

The white maize contract due for delivery in July 2015 ticked up R2 to R2‚598 a ton and the September 2015 contract dipped R1 to R2‚633 a ton. The December 2015 contract also gave back R1 to R2‚678 a ton.

The yellow maize contract due for delivery in July 2015 was up R4 to R2‚367 a ton and the September 2015 contract lifted R6.40 to R2‚403.40 a ton. The December 2015 yellow maize contract added R2.20 to R2‚433.20 a ton.

The wheat contract due for delivery in July 2015 was down R14 at R3‚783 a ton‚ while the September 2015 contract was up R5 at R3‚775 a ton. The December 2015 wheat contract gained R15 to R3‚740.

Meanwhile‚ in the US‚ wheat futures dropped to fresh multiweek lows on Wednesday as buyers left the market amid an improved outlook for the crop.

On Wednesday‚ private forecasters said widespread rainfall from late Thursday into the weekend would aid the growth of winter wheat‚ which is used to make bread‚ Dow Jones Newswires reported.

May-dated wheat shed 6 1/4 cents‚ or 1.3%‚ to $4.90 3/4 a bushel at the Chicago Board of Trade‚ the lowest since 6 March.

Corn prices gained despite largely favourable weather for corn planting in the US Midwest and disappointing data showing ethanol production declined for a third straight week last week.

CBOT May corn added 2 1/2 cents‚ or 0.7%‚ to $3.76 a bushel.

Source: BDpro

Source: I-Net Bridge

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