July 2, 2007

South Africa corn futures end higher
 

South African white corn futures ended higher Friday (June 29) following gains on the Chicago Board of Trade's (CBOT) electronic trading session.

"The rand is at strong levels and that could have limited the move on the upside," a Johannesburg-based trader said.

The key July white corn contract was up 19 rand to 1,644 rand and December added 20 rand to 1,736 rand.

Prices were buoyed by gains on CBOT's overnight electronic trading session after a normal trading on CBOT failed to provided a solid lead.

On CBOT electronic platform, July white corn was last trading 4 6/8 cents higher at US$344 2/8 and December gained 4 4/8 cents at US$362 6/8, Dow Jones Newswires reported.

Shortly before the local grain market closed, the rand was bid at 7.08 to the dollar from 7.09 on Thursday.