South African White Corn Advances to Highest Level Since JuneTshepiso Mokhema
White-corn futures traded in South Africa rose for a sixth session in seven to the highest level since June. Wheat gained.
White corn for delivery in March climbed 0.3 percent to 2,454 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 20, according to data compiled by Bloomberg. Yellow corn for delivery in December advanced 0.1 percent to 2,441 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 March gained for a second day to 3,614 rand a ton.