Total maize

White Maize

Yellow Maize

When running the projected exports into our current S&D and making the assumption, that the current tempo determains the future demand and taking long term historical data into consideration. We see that we might run out of stock on the yellow and that we are sitting with a surplus on the white.

Substitution of white for yellow needs to take place for the surplus in white to decline. And to balance our S&D, bringing it in line with long term averages. If the substitution does not happen and/or export doesnot stay inline with projection, it would put large amount of presure on the price of white maize,  well into  the new season. Espesially if we see normal weather paterns for the 2017/18 grain season.

So for the near future our export would play a major role in determing of the our longterm price ranges, espesially on the white, with a very niche demand.

We will keep on monitoring the projections againt actuals. To determ change on the demand side.