South African Yellow Corn Drops Most in 2 Weeks in JohannesburgTshepiso Mokhema
South African yellow corn futures fell the most in more than two weeks in Johannesburg. The white variety also dropped.
Yellow corn for delivery in July declined 1.1 percent to 2,218 rand ($206) a metric ton, the most since Feb. 24 by the midday close on the South African Futures Exchange. The white variety fell 0.7 percent to 2,140 rand a ton.
South Africa is the continent’s largest producer of corn. White corn is the source for a meal that’s a staple food in the country, while the yellow variety is mainly fed to animals.
Wheat for delivery in May rose 0.5 percent to 3,925.20 rand a ton.
The nation is a net importer of wheat and sub-Saharan Africa’s largest grower after Ethiopia, according to the U.S. Department of Agriculture.