Grains close softer on firmer rand and lower CBoT prices

South African grain futures closed softer on Tuesday due to a slightly firmer rand during the trading session and softer Chicago Board of Trade (CBoT) prices.

"The rand was slightly firmer than yesterday and corn prices in the US also declined. Chicago corn prices were 6c lower overnight and also declined due to the stronger dollar. Wheat prices in the US were also lower because of the rainfall there‚" a local trader said.

The white maize contract due for delivery in July 2015 was down R31.80 to R2‚627 a ton and the September 2015 contract retreated R24 to R2‚670 a ton. The December 2015 contract closed R27 softer at R2‚715 a ton.

The yellow maize contract due for delivery in July 2015 gave back R22 to R2‚374 a ton and the September 2015 contract was down R25 to R2‚408 a ton. The December 2015 yellow maize contract declined R23 to R2‚442 a ton.

The wheat contract due for delivery in July 2015 was R27 softer at R3‚845 a ton‚ while the September 2015 contract was down R14 at R3‚810 a ton. The December 2015 wheat contract eased R22 to R3‚750.