Maize futures slip at close
SA maize prices slip on Wednesday for the second straight session‚ as the rand regains some lost ground against the US dollar.
SA maize prices slipped on Wednesday for the second straight session‚ as the rand regained some lost ground against the US dollar.
Market players were also cautious ahead of the US government report on the supply and demand of the grain‚ said Lukas de Waal‚ a trader at Brisen Trading. The US is the world’s largest producer and exporter of maize.
White maize for December delivery‚ the most active contract on the South African Futures Exchange‚ dipped 1.24% to close at R2‚474 a ton. Meal made from the grain is SA’s staple food.
Yellow maize for December delivery slipped 0.86% to R2‚500.40 a ton. The grain is used mainly as animal feed in SA.
Wheat for December delivery shed 0.67% to close at R3‚575 a ton.
The Chicago Board of Trade December corn futures settled flat at $7.42 a bushel on Tuesday.