South African maize futures pushed higher on Friday, amid worries about patchy rainfall prospects.
The March 2012 white maize contract rallied R83 to R2,565 per ton, the May 2012 white maize gained R29.80 to R2,274.80 per ton, and July 2012 white maize lifted R17 to R2,145 per ton, according to preliminary I-Net Bridge data.
The March 2012 yellow maize contract was up R55 to R2,540 per ton, the May 2012 yellow maize contract gained R13 to R2,195 per ton and the July 2012 yellow maize contract lifted R17.20 to R2,102.20 per ton.
The March wheat contract lost R35 to R2,710 per ton, May wheat was down R26 to R2,772 per ton as was the July 2012 wheat contract, which shed R20.20 to R2,824.80 per ton.
Dow Jones Newswires reported that US soybean futures ended higher on Thursday, settling at a new six-month high on increasing export demand and concerns over the size of the South American crop.
Soybeans for May delivery, the most actively traded month, ended up 0.9%, at US$13.38 1/2 a bushel at the Chicago Board of Trade.
Corn futures ended mixed, with May corn falling 0.5%, to $6.35 1/2 a bushel, drawing pressure from traders reducing risk exposure ahead of the US Department of Agriculture report.
March corn rose 0.2%, to $6.45 a bushel, supported by tight cash markets as farmers wait for higher prices to sell their on-hand corn.
Wheat futures closed lower in the face of strong global supplies. - I-Net Bridge