South African Yellow Corn Gains to 5-Month High; Wheat IncreasesTshepiso Mokhema
South African yellow-corn futures rose to the highest level in five months by the midday close in Johannesburg. Wheat also gained.
Yellow corn for delivery in December, the most active contract, gained 1 percent to 2,391 rand ($235) a metric ton, the highest for this specific contract since June 20, by the close on the South African Futures Exchange. The white variety for December delivery advanced 1 percent to 2,455 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 of the grain is mostly fed to animals.
Wheat futures increased 0.6 percent to 3,540.20 rand a ton, the most since Nov. 4.