Maize On NCDEX Settled Up By 1.22% At 1580

Maize on NCDEX settled up by 1.22% at 1580 continuing its trend tracking firmness in spot demand and overseas prices. South Africa will leave its 2016 maize output forecast largely unchanged, according to estimation. The Crop Estimates Committee (CEC), which will provide its ninth and final summer grains production forecast for 2016, is seen pegging the harvest at 7.3 million tonnes, a similar level it predicted last month. The expected production would be 27% lower than 2015 output of 9.95 million tonnes after a severe drought hit crop harvests this year.

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