Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

South African White Corn Falls to Two-Month Low as Demand Drops

Don't Miss Out —
Follow us on:

Dec. 19 (Bloomberg) -- South African white-corn futures fell to the lowest in more than two months as the price of the grain in the U.S. retreated after a report showed demand for the grain from the world’s biggest exporter slowed.

White corn for delivery in March, the most active contract, declined 0.9 percent to 2,298.80 rand ($271) a metric ton, the lowest since Sept. 28, by the close on the South African Futures Exchange in Johannesburg. The yellow variety for July delivery fell 1.4 percent to 2,150 rand a ton.

Corn decreased for a third day on the Chicago Board of Trade, reaching $7.1925 a bushel, the lowest since Sept. 27. As of Dec. 6, corn sales for delivery before Sept. 1 fell 46 percent to 12.488 million tons from a year earlier, the lowest since the U.S. Department of Agriculture began reporting the data in 1990, USDA data show.

“There are slower-than-expected export sales in the U.S. and because we follow them, it has put pressure on our prices,” Benjamin Swanepoel, a trader at Trademar Futures (Pty) Ltd., said by phone from Johannesburg.

In South Africa, white corn is mainly used as one of the country’s staple foods, while the yellow type is used as animal feed.

Wheat for delivery in March, increased 0.3 percent to 3,595 rand a ton.

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

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.