South African white maize prices fell almost four percent on Friday as heavy rains fell over some of the country's grain belt, easing further away from 22-month highs scaled earlier in the week.
March white maize fell 45 rand or almost four percent to 1,120 rand a tonne. It briefly hit an intraday 22-month high of 1,229 rand a tonne on Wednesday.
It is still almost 15 percent higher over the month of December, with its recent gains spurred by concerns over how much land farmers will sow with maize and the usual mid-summer uncertainties about weather. It is almost 43 percent higher on its 2004 closing level.
But traders said the immediate 2006 outlook was for some easing if good rains persisted over the weekend.
"We are looking at the rain and more is forecast for the weekend over parts of the maize triangle ... if we get ample rain over the weekend the price should fall further next week," said one trader.
Rain was forecast over much of the Free State province on Friday and Saturday though less rain was seen over North West province, much of which could use a good soaking.
The next survey on farmers' planting intentions, to be released in January, will be key to longer-term trends.
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