S. African Yellow Corn Rises to Three-Week HighTshepiso Mokhema
South African yellow corn futures rose to the highest level in almost three weeks by the midday close in Johannesburg. White corn advanced.
Yellow corn for July delivery gained 1 percent to 2000.20 rand ($186) a metric ton, the highest since May 22, on the South African Futures Exchange. The white variety for delivery in the same month advanced 1.2 percent to 1,888 rand a ton.
The nation, which is Africa’s biggest producer of corn, has delivered 1.5 million tons of the yellow grain so far this season, according to the South African Grain and Information Service.
Meal from white corn is cooked to make one of the country’s staple foods, known as pap, and the yellow variety is mainly used as animal feed.
Wheat for delivery in July rose 0.1 percent to 3,855 rand a ton.