Dec17WM graph

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South African maize prices and U.S. corn prices dip lower into unknown territory.  Below is a daily chart portraying the Dec17WM graphprice action for the DEC16WMAZ contract traded on the JSE.  The contract price continued to break major levels on the downside over the past week as Chicago prices continued to slide.  However a slight bounce and support was seen in U.S. corn prices on Friday.  With parities currently in the positive we could see some support on local market prices.  How far can we still go before a good pull back is due?…