South African maize futures ended slightly firmer on Thursday in thin trade ahead of the Easter weekend.
The May 2012 white maize contract was up R15 to R2,340 per ton, July 2012 white maize gained R20 to R2,285 per ton, and September 2012 white maize lifted R27.60 to R2,297.60 per ton, according to preliminary I-Net Bridge data.
The May 2012 yellow maize contract was up R4 to R2,219 per ton, while the July 2012 yellow maize contract added R2 to R2,195 per ton and the September 2012 yellow maize contract edged up R15 to R2,210 per ton.
The May wheat contract was down R7 to R2,755 per ton, July wheat slipped R7 to R2,805 per ton, while the September 2012 wheat contract was unchanged at R2,817 per ton.
“The softer/rand US dollar weakness offered some support, although few players took part in today's session due to the Easter weekend,” said Robert Steynberg, a trader at Vrystaat Koöperasie Beperk.
The rand fell to 7.86 to the US dollar in the session, from 7.81 on Wednesday.
Meanwhile, US wheat futures tumbled on Wednesday on favourable weather conditions for US and European wheat crops.
Rains in the Great Plains and Europe raised expectations for higher-yielding crops in those regions, implying greater supplies and pushing prices down.
Corn futures ended slightly lower on pressure from the decline in wheat and on expectations for a large US crop this year. CBOT May corn fell 1 1/2 cents to $6.56 3/4 a bushel. - I-Net Bridge