South African Wheat Advances to Highest in 8 Sessions

Wheat in South Africa rose to the highest level in eight sessions by the midday close in Johannesburg.

The contract for May delivery advanced 1.3 percent to 3,990 rand ($378) a metric ton, the highest settlement since April 4 on the South African Futures Exchange.

The nation, a net importer of wheat, is sub-Saharan Africa’s largest producer of the cereal after Ethiopia and the region’s biggest buyer after Nigeria and Sudan, according to U.S. Department of Agriculture data.

White corn for delivery in July fell 0.4 percent to 2,100 rand a ton, while the yellow variety was unchanged at 2,210 rand a ton.

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