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South African Wheat Increases to a 15-Week High at Close

South African wheat futures gained to the highest level in 15 weeks on the South African Futures Exchange.

Wheat for delivery in December, the most active contract, gained 0.7 percent to 3,460 rand ($345) a metric ton, the highest since June 24 by the close in Johannesburg.

South Africa, a net importer of wheat, is sub-Saharan Africa’s largest producer of the grain after Ethiopia and the region’s biggest importer after Nigeria and Sudan, according to U.S. Department of Agriculture data.

White corn for December delivery fell 0.3 percent to 2,362 rand a ton, while the yellow variety for delivery in the same period gained 0.2 percent to 2,160 rand a ton in Johannesburg.

To contact the reporter on this story: Tshepiso Mokhema in Johannesburg at tmokhema@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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