/ 4 March 1999

MAIZE FUTURES TRADE ON DROUGHT

WHITE maize futures rose at the start of trade on Wednesday continuing a drought-inspired rally. However, contracts soon ran out of steam as investors settled back to analyse the impact on the crop. Traders said that although there were few signs of a change in the scorching heat and dry weather experienced over the maize belt this week, sellers had emerged in the market, possibly taking profits after the recent strong run.