South African Yellow Corn Reaches Highest Level in Five Months

Yellow-corn futures traded in South Africa rose to the highest level in more than five months. Wheat declined.

Yellow corn for delivery in December added 0.6 percent to 2,435 rand ($241) a metric ton by the close on the South African Futures Exchange in Johannesburg. That was the contract’s highest settlement since June 11, according to data compiled by Bloomberg. White corn for the same delivery month was unchanged at 2,463 rand a ton.

South Africa is the continent’s largest producer of the grain. Yellow corn is mainly fed to animals in the nation, while a meal made from the white variety is a staple food.

Wheat for delivery in December fell for a ninth session in 10 to 3,522 rand a ton.

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