Below is a line chart portraying the spread between July yellow over March yellow maize for the current year and vs. the previous 3years. The spread between JUL16YMAZ and MAR16YMAZ has closed slightly since the beginning of July last year as the red line shows a slight upward trend as shown in the graph below. The spread opened R130 on Friday when the MARY contract climbed limits higher whilst the JULY contract closed R50 lower. The spread currently stands on R220 with the March contract above the July contract.