South African Yellow Corn Gains to 5-Month High; Wheat Increases

South African yellow-corn futures rose to the highest level in five months by the midday close in Johannesburg. Wheat also gained.

Yellow corn for delivery in December, the most active contract, gained 1 percent to 2,391 rand ($235) a metric ton, the highest for this specific contract since June 20, by the close on the South African Futures Exchange. The white variety for December delivery advanced 1 percent to 2,455 rand a ton.

South Africa is the continent’s biggest corn producer. A meal made from white corn is a staple food in the nation and the yellow variety of the grain is mostly fed to animals.

Wheat futures increased 0.6 percent to 3,540.20 rand a ton, the most since Nov. 4.

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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