South African Corn Declines 0.4% After Rallying 1.4% YesterdayTshepiso Mokhema
South African corn futures fell after rallying 1.4 percent yesterday.
Yellow corn for delivery in December decreased 0.4 percent to settle at 2,175.20 rand ($219) a metric ton by the close on the South African Futures Exchange. Yesterday’s gain was the first in seven sessions. The white variety for delivery in the same month was little changed at 2,343 rand a ton. South Africa, which is the continent’s largest corn grower, uses yellow corn mainly as animal feed, while meal made from the white variety is one of the nation’s staple foods.
Wheat for delivery in December dropped 0.1 percent to 3,375 rand a ton. South Africa is a net importer of the grain.