South African White Corn Drops Most Since Oct. 11 by Noon Close

South African white corn futures declined the most in more than three weeks by the close on the South African Futures Exchange. Yellow corn also dropped.

White corn for delivery in December the most active contract, fell 1.1 percent to 2,415 rand ($235) a metric ton, the most since Oct. 11 in Johannesburg. The yellow variety for delivery in the same month, decreased 0.4 percent to 2,328.80 rand a ton.

South Africa is the continent’s biggest corn producer. A meal made from white corn is a staple food in the nation and the yellow variety is mostly fed to animals.

Wheat for delivery in December gained 0.4 percent to 3,570 rand a ton.

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