March 6, 2008

South African corn mixed after choppy trade 

South African white corn futures ended mixed Wednesday with the rand supporting the nearby contracts, while middle-dated contract hardly moved ahead of the US planting intentions next week, traders said.

The most active white corn for July delivery contract ended 5 rand lower at ZAR1,735 a tonne and March white corn gained ZAR35 rand to ZAR1,810 rand per tonne.

"The March corn was supported by the rand and CBOT, but July could not follow suit ahead of planting intentions data in the US next week despite lack of rains in recent days that could harm crops," said Roan Erasmus, a grain trader at Free State-based Vrystaat Kooperasie.

US$1=ZAR 7.76