Maize futures firmer on strong demand

South African maize futures closed the Monday session firmer due to "very good" local demand from traders.

"The prices are firmer despite softer Chicago Board of Trade prices. There is very good local demand for white maize‚ pushing prices higher. White maize prices are also at good levels for farmers to sell amid a shortage of white maize. Wheat prices are lower due to lower Chicago prices‚" a local trader said.

At the close of market‚ the white maize contract due for delivery in July 2015 was up R70 to R2‚887 a ton‚ the white maize contract due for delivery in September 2015 climbed R80.00 to R2‚931.00 a ton and the white maize contract for delivery in December 2015 rose by R72.20 to R2‚976.20 a ton.

In yellow maize‚ the contract due in July 2015 lifted R31.80 to R2‚455.80 a ton‚ the September 2015 contract added R13.80 to R2‚466.80 a ton and the December 2015 contract was up R12.20 to R2‚509.20 a ton.

The wheat contract due for delivery in July 2015 dipped R7 to R3‚839 a ton‚ the September 2015 contract was unchanged at R3‚845 a ton.

The December 2015 wheat contract added R10 to R3‚820 a ton.