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South African White Corn Advances to Record: Johannesburg Mover

South Africa’s most active white-corn futures climbed by the limit to the highest on record as drought curbs crops in the U.S., driving the global price to a more than 10-month high.

White corn for December delivery advanced 80 rand, or 3.1 percent, to 2,700 rand ($326) a metric ton by the noon close on the South African Futures Exchange in Johannesburg. The yellow variety for delivery in the same month rose 3.1 percent to 2,641 rand a ton, the highest for a most active contract on a closing basis since Jan. 26.