South African maize futures finished the session higher on Tuesday, rebounding from a sharp selloff amid some bargain hunting.
The near-dated May 2012 white maize contract recovered R68.20 to R2,091.20 per ton, July 2012 white maize lifted R79.20 to R2,054.20 per ton, and September 2012 white maize gained R79.20 to R2,079.20 per ton, according to preliminary I-Net Bridge data.
The near-dated May 2012 yellow maize contract was R75 in the black at R2,005 per ton, the July 2012 yellow maize contract rallied R80 to R2,010 per ton and the September 2012 yellow maize contract climbed R73 to R2,028 per ton.
The May wheat contract was up R66 to R2,750 per ton, July wheat gained R52 to R2,800 per ton, while the September 2012 wheat contract lifted R41.80 to R2,848.80 per ton.
Corn futures ended mixed on Monday, as traders continued to weigh tight current availability of supplies against expectations for a large US crop and early harvest this year, Dow Jones Newswires reported.
Weekend rains in the corn belt were seen as favourable for already-planted corn.
CBOT July corn settled down 1/4 cent at US$6.20 a bushel. May corn rose 2 3/4 cents to $6.65 a bushel.
Wheat futures ended mostly higher on gains late in the session. Short covering boosted prices after CBOT July wheat dropped close to $6.00 a bushel in the morning but failed to break through that psychological barrier, traders said.
CBOT July wheat closed up 2 1/2 cents at $6.12 a bushel. - I-Net Bridge