Maize futures end mixed as rains delay new crop delivery

South African maize futures ended mixed on Thursday‚ 17 April 2014, with near-dated contracts receiving solid support due to delays in the delivery of the new crop.

The April 2014 maize contract surged R190 to R3‚145 a ton‚ while the July white maize contract edged up R1 to R2‚100 a ton and September 2014 contract declined by R5 to R2‚140 a ton.

The April 2014 yellow maize contract rallied R50 to R2‚650 a ton‚ but the July 2014 yellow maize contract shed R4.80 to R2‚205.20 a ton and the September 2014 contract was down R6.80 to R2‚243.20 a ton.

"The recent rainfall is delaying the early delivery process of the crop‚ sparking concerns of a crunch in supplies‚" CJS securities trader Piet Faure said.

South Africa has imported a total of 70‚583 tons of yellow maize the crisis-hit Ukraine since the middle of January to replenish the existing stocks.

Wheat for delivery in April 2014 edged up R4 at R3‚963 a ton‚ but wheat for delivery in July lost R24 to R3‚990 a ton‚ with the September 2014 wheat contract giving up R22 to R3‚948 a ton.