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South African White Corn Declines to 2-Month Low in Johannesburg

Feb. 21 (Bloomberg) -- White corn in South Africa, the continent’s largest producer of the grain, fell to the lowest level in two months.

The contract for delivery in July dropped 1.2 percent to 2,162 rand ($196) a metric ton, the least since Dec. 20, by the midday close on the South African Futures Exchange. The yellow variety decreased 0.4 percent to 2,237 rand a ton.

White corn is used as a staple food known as pap in South Africa, while the yellow variety is mainly used as animal feed.

Wheat futures for delivery in March fell 0.2 percent to 3,882 rand a ton. Soybeans for May declined 0.1 percent to 6,270 rand a ton.

To contact the reporter on this story: Tshepiso Mokhema in Johannesburg at tmokhema1@bloomberg.net

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

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