"Chicago prices weakened between our market close at noon on Friday and our reopening at 9am this morning‚" said Johan van Rensburg‚ commodities trader at Mooirivier Grain in Potchefstroom.
"Our maize prices would not normally have dropped as much as they did today‚ but contracts came under extra selling pressure after the long weekend in the US‚ as our prices were playing catch up to the lower Chicago prices‚" he said.
July white maize ended R32 lower at R2‚200 per ton‚ September white maize gave back R33 to R2‚225 per ton and December white maize ended R37 softer at R2‚266.
July yellow maize closed R32 lower at R2‚171 per ton‚ the September contract retreated R34 to R2‚197 per ton and December yellow maize slid R43 to R2‚216 per ton.
The July wheat contract dipped R8 to R3‚520 per ton‚ September wheat dipped R6 lower at R3‚461 per ton and December wheat ended R13 lower at R3‚431 per ton.
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