Maize futures up amid crop yield doubts

SA maize futures rallied on Wednesday (17 July) amid market uncertainty about the size of expected white maize yields.

The crop estimates committee will release its sixth production forecast of summer crops on 25 July.

The July white maize contract gained R38 to R2‚337 per ton at the close‚ with September white maize rising R38 to R2‚353 per ton and December white maize climbing R26 to R2‚398 per ton.

"White maize is now trading at a premium to yellow amid the uncertainty over the crop. Weekly white maize deliveries are disappointing at the moment‚" said Andrew Fletcher‚ an independent trader.

The July yellow maize lifted R26 to R2‚217 per ton‚ with the September contract picking up R12.20 to R2‚230.20 per ton and December yellow maize garnering R11.80 at R2‚266.80 per ton.

The July wheat contract‚ however‚ fell by R13 to R3‚412 per ton‚ with September wheat slipping R10 to R3‚413 per ton‚ and December wheat losing R10 to close at R3‚360 per ton.