Bloomberg the Company & Products

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

Communications

Industry Products

Media Services

Follow Us

South African Corn Futures Decline as Chicago Price Drops

Don't Miss Out —
Follow us on:

Jan. 7 (Bloomberg) -- South African corn futures fell after prices of the grain declined in the U.S., the world’s largest grower.

White corn for delivery in March, the most active contract, dropped 1.3 percent to 2,182.20 rand a metric ton ($254) by the close on the South African Futures Exchange in Johannesburg. The yellow variety for July delivery decreased 1.6 percent to 2,075 rand a ton.

Corn fell on the Chicago Board of Trade on Jan. 4, closing at $6.8045 a bushel, a decline of 1.3 percent. It rose 0.6 percent to $6.8450, up from a six-month low, as of 12:09 p.m. in London.

“Prices are down today mainly because the Chicago prices were down on Friday by close,” Thys Grobbelaar, an analyst at Klerksdorp, South Africa-based Senwes Ltd., said by phone today.

South Africa is the continent’s largest producer of corn, also known as maize. White corn is a staple food, while yellow corn is used as animal feed.

Soybeans for delivery in March fell 2.1 percent to 4,610 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.