Maize futures sharply higher as harvest concerns weigh

South African maize futures were sharply higher on Monday as harvest concerns caused worry in the market.

SA is expecting the worst maize crop in eight years with the harvest seen falling by 32%.

At the close of market‚ the white maize contract due for delivery in July 2015 was limits up to R2‚795 a ton‚ the white maize contract due for delivery in September 2015 climbed R75 to R2‚834 a ton and the white maize contract for delivery in December 2015 was limits up to R2‚881 a ton.

In yellow maize‚ the contract due in July 2015 lifted R48 to R2‚452 a ton‚ the September 2015 contract added R52 to R2‚486 a ton and the December 2015 contract was up R51 to R2‚522 a ton.

The wheat contract due for delivery in July 2015 rose by R3.20 to R3‚843.20 a ton‚ the September 2015 added R7 to R3‚875 a ton and the December 2015 wheat contract climbed by R15.20 to R3‚868.20 a ton.