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 Declines to 1-Week Low as Rand Strengthens

April 7 (Bloomberg) -- Corn futures in South Africa fell to the lowest level in a week as the rand strengthened against the dollar, making it cheaper to import the grain.

White corn for delivery in July fell 0.8 percent to 2,125 rand ($202) a metric ton, the lowest since March 31, by the noon close on the South African Futures Exchange. The yellow variety dropped 0.4 percent to 2,218 rand a ton.

“It was expected that the price would go down because of our strong rand,” said Thys Grobbelaar, an analyst at Senwes Ltd. in Klerksdorp, South Africa.

The rand gained 0.5 percent to 10.5149 per dollar at 4:55 p.m. in Johannesburg.

South Africa is the continent’s largest producer of corn. Meal made from yellow corn is fed to animals while the white type is used to make a staple food, known locally as pap.

Wheat for delivery in May fell 0.5 percent to 3,976 rand a ton.

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

To contact the editors responsible for this story: Lars Paulsson at lpaulsson@bloomberg.net Andrew Reierson, Dan Weeks

Please upgrade your Browser

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

Chrome, Firefox, Safari, Opera or Internet Explorer.