TUESDAY, 11.45AM:
THE price of white maize futures on the SA Futures Exchange last week continued the slide that began in December following the late start of summer rains.
Safex agricultural markets GM Rod Gravel-Blondin said on Monday that maize futures contract prices fell a further R50 last week and, with the exception of December white maize contracts, futures prices have fallen to below R900 a ton.
However, the National Maize Producers Organisation announced last Friday that the area under maize this year is significantly lower than previously because of the late onset of the rains and hail damage in parts of Mpumalanga and North-West, which may lead to a swing-back in the futures prices.
The National Crop Estimates Committee meets again this week to determine areas planted and expected yields.
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