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South African Yellow Corn Declines to 3-Week Low in Johannesburg

South African yellow corn futures fell to the lowest level in three weeks by the close of trading in Johannesburg. Wheat also dropped.

Yellow corn for delivery in July decreased 0.2 percent to 1,951.20 rand ($182) a metric ton, the lowest since May 30 on the South African Futures Exchange. The white variety fell 0.3 percent to 1,841.20 rand a ton.

South Africa is the continent’s biggest producer of corn. Meal from white corn is used to make a staple food known as pap. The yellow variety is used in animal feed.

Wheat for July delivery fell for the fourth consecutive session and was down 0.5 percent at 3,785 rand a ton.

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