South African Corn Drops as U.S. Prices Decline to Five-Week Low
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Corn in South Africa, the largest producer of the grain on the continent, slumped as prices fell to a five-week low in the U.S., which competes for African export markets.
Corn for March delivery slid as much as 3.3 percent to $5.22 a bushel on the Chicago Board of Trade today on concern that China will take steps to curb commodity speculation and limit inflation, reducing demand for imports.