Business Day

HOW ARE WE DOING?

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Maize futures closed yesterday’s session slightly firmer after recent declines as traders saw value at these lower levels. Meanwhile traders have been positionin­g themselves ahead of the monthly supply-anddemand report from the US agricultur­e department, with higher stocks than originally estimated expected, which is already priced into markets. Technical charts were showing that maize had been oversold and subsequent­ly buyers were coming into the market as they were hoping that prices would rise, said Benjamin Swanepoel, a trader at Trademar Futures.

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