Maize On NCDEX Settled Down By -3.25% At 1606

Maize on NCDEX settled down by -3.25% at 1606 tracking weakness in spot demand and overseas prices after a U.S. government report showed healthy crop conditions. South Africa will likely harvest 7.16 million tonnes of maize in 2016, unchanged from a previous estimate as weather conditions remained stable, a government agency said. The forecast by the Crop Estimates Committee (CEC), its sixth of this season, was 28% lower than the 9.95 million tonnes reaped last year because of drought and late plantings.

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