Grains down on CBoT and rand

Madeleine van Niekerk

South African maize and wheat prices closed a touch lower on Thursday due to lower Chicago Board of Trade (CBoT) prices and a bit of a stronger rand.

“The fundamentals are that we are in all likelihood going to have a record maize crop‚ equal to the record crop of 12.8m tons of maize we had in the 2009/2010 season‚ and this pushed prices lower today‚” said Wilbie Venter‚ Safex trader at Unigrain in Randfontein.

The white maize contract for March 2013 delivery gave back R9 to close at R2‚053‚ the white maize contract for July 2013 lost R15 to R1‚882 per ton and the white maize contract for September 2013 shed R17 to close at R1‚913.

The yellow maize contract for March 2013 dipped R1 to R2‚146 per ton and the July 2013 yellow maize contract dropped R16 to R1‚923 per ton. The yellow maize September contract for 2013 gave back R12 to close at R1‚960.

The wheat contract for March 2013 lost R21 to at R3‚524 per ton and the July 2013 wheat contract gave back R5 to R3‚620 ton.