Daily Commentary

DAILY MARKET COMMENTARY

CBOT
COMMODITY	CLOSING PRICES (US cents per bushel)

	Dec09	Change	Mar10	Change	May10	Change
CORN	371'6	1'2	382'4	1'0	393'4	1'2
WHEAT	492'6	0'6	505'0	0'4	517'2	0'4
SOYA	953'6	-0'4	964'4	1'0	972'4	1'6
Corn ended down a smidge Tuesday, rebounding late after spending most of the day lower. The market has been under pressure this week after it tried and “utterly failed” to climb through major moving averages Monday. U.S. wheat futures closed mixed and near unchanged as the markets consolidated amid modest movements in neighboring markets. Wheat stabilized after sinking Monday and seesawing between positive and negative closes for the past week. Soybean futures finished slightly higher amid inter-market spreading and support from firm soyoil, analysts say. Market participants were buying soybeans and selling the grains, as they did Monday.

SAFEX
COMMODITY	CLOSING PRICES (Rand/Ton)

	Mar10	Change	May10	Change	Jul10	Change
WHITE MAIZE	1117	-25	1129	-29	1134	-31
YELLOW MAIZE	1191	-30	1200	-33	1204	-33
WHEAT	2056	-32	2081	-39	2124	-36
SUNFLOWER	3420	-30	3440	-45	3482	-58
SOYA	2670	-10	2575	-20	2620	-20
The SAFEX Market tends to follow a similar trend as the U.S. market (CBOT) unless, major internal factors disrupt our local markets.