Daily Commentary

DAILY MARKET COMMENTARY

CBOT
COMMODITY	CLOSING PRICES (US cents per bushel)

	Jul10	Change	Sep10	Change	Dec10	Change
CORN	350'4	-1'0	360'2	-0'6	371'2	0'6
WHEAT	459'0	-1'6	474'0	-1'6	501'6	-2'4
SOYA	964'2	-1'2	955'6	-2'2	941'0	1'4
Corn ended lower on pressure from favorable crop conditions and a bearish technical outlook. Weather forecasts lack a significant heat threat, and many traders view the crop's strong start, and ongoing wet, warm conditions as bearish. U.S. wheat futures consolidated and closed lower amid weakness in the neighboring corn market and comfortable supply levels. Commodity funds sold an estimated 2,000 wheat contracts at CBOT. Futures finished Tuesday's day session mixed, with adjustments in bull spreads featured, as old-crop contracts garnered support from tight supplies and underlying demand. Deferred month, new-crop futures were under pressure from adjustments in bull spreads and favorable crop outlooks despite threatening U.S. weather.

SAFEX
COMMODITY	CLOSING PRICES (Rand/Ton)

	Jul10	Change	Sep10	Change	Dec10	Change
WHITE MAIZE	1051	-14	1086	-13	1135	-14
YELLOW MAIZE	996	-7	1035	-13	1100	0
WHEAT	2310	7	2338	12	2349	7
SUNFLOWER	3338	64	3417	52	3515	57
SOYA	2542	2	2595	-3	2670	-3
The SAFEX Market tends to follow a similar trend as the U.S. market (CBOT) unless, major internal factors disrupt our local markets.