Dec16 White Maize breaks higher

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Friday’s trade action saw December and March white maize prices rally limits higher for a second consecutive day on the back of talk that white ships booked for imports would not be released in the near term.  Further months on white maize, like July, as well as most yellow maize contracts ended Friday’s session in the red on the back of further rains received over S. African maize producing regions as well as lower trading Chicago corn prices causing parity’s to be down pre-trade.  Below is a daily chart portraying the break-out higher on DEC16WMAZ.  Could the recent news fuel prices to go even higher and close the gap previously left, at R3770, as indicated by the green ellipse?…decgraph2410