Maize prices closed higher on Wednesday due to higher US grain futures prices and a weaker rand.
“Yesterday the market saw big volumes traded and the whole market came down‚ but today we are up again supported by local buying‚ as participants are seeing some value at these levels‚” a local trader said.
White maize for December delivery‚ the most active contract on the South African Futures Exchange‚ rose 1.62%‚ to close at R2‚445 a ton. Meal made from the grain is SA’s staple food.
Yellow maize for December delivery gained 1.17% to R2‚430 a ton. The grain is use mainly as animal feed in SA.
Wheat for December delivery shed 0.95% to R3‚446 a ton. - I-Net Bridge