Madeleine van Niekerk

South African maize closed the Tuesday session mostly lower due to a stronger rand and partially due to weaker Chicago Board of Trade (CBoT) figures.

“The near dated white maize March 2013 contract‚ the old crop‚ closed a little bit higher due to demand‚ while the new crop such a the July and September white maize contracts closed lower‚ due to a stronger rand‚” a local trader said.

“Wheat closed lower due to a firmer rand and lower Chicago Board of Trade figures.

At 12.14pm the rand was quoted at R8.8974 to the greenback from R8.9085 on Monday.

The white maize contract for March 2013 delivery added R5 to R2‚061 per ton‚ while the white maize contract for July 2013 gave back R11 to R1‚927 per ton and the white maize contract for September 2013 dipped R19 to R1‚950.

The yellow maize contract for March 2013 shed R15 to R2‚185 per ton and the July 2013 yellow maize contract lost R19 to close at R1‚972 per ton.

The wheat contract for March 2013 shed R23 to close at R3‚582 per ton and the July 2013 wheat contract gave back R20 to R3‚660 ton.