S.Africa maize exports rise, futures end down

JOHANNESBURG (Reuters) - South Africa's maize exports rebounded last week after falling in the week before, data showed on Tuesday, while the main maize futures fell on the back of weaker international prices and a firmer rand currency.

Weekly white maize exports rose to 11,939 tonnes in the week to November 20 compared with 9,736 tonnes in the week before, the South African Grain Information Service (SAGIS) said.

It said exports of yellow maize, used mainly for animal feed in southern Africa, increased to 2,935 tonnes from 1,816 tonnes in the previous week.

Exports of the staple white maize were boosted by a 4,363 tonne sale to neighbouring Botswana, while Swaziland bought most of the yellow maize with a purchase of 947 tonnes.

The white maize sales were less than half of the 25,244 tonnes exported at the same time last year, while yellow maize exports were almost double the 1,569 tonnes sold during the same week in 2008.

South Africa, the continent's biggest maize producer, has exported 1.02 million tonnes of the grain so far since the start of the marketing season in May.

Traders expect the country to have another big exports season next year, with a good harvest anticipated in the current 2008/09 season.

The government's Crop Estimates Committee (CEC) says it expects this year's harvest to reach about 11.74 million tonnes, compared with 12.7 million tonnes in the season before.

The expectations of a big maize crop have kept prices on the South African Futures Exchange relatively low this year but the market has mainly tracked international prices on the Chicago Board of Trade (CBOT) and movements in the rand currency.

The benchmark December maize and wheat futures ended lower on Tuesday following weaker CBOT corn futures and also pressured by a firmer rand against the dollar.

December white maize fell 1.85 percent to 1,541 rand a tonne, while yellow maize for delivery in the same month shed 0.20 percent to 1,463 rand a tonne. Wheat for December delivery dropped 1.51 percent to 2,156 rand a tonne.