S. African Corn Gains to Cap Second Consecutive AdvanceNeo Khanyile
South African white corn futures rose, capping the second consecutive weekly advance.
The July futures contract climbed 0.1 percent to 1,879.80 rand ($174) a metric ton on the South African Futures Exchange in Johannesburg. Prices advanced 1.9 percent this week and 1 percent last week, narrowing this year’s decline to 33 percent.
South Africa is the continent’s biggest producer of corn. Meal from white corn is used to make a staple food known as pap. Yellow corn for delivery in July declined 0.6 percent to 1,985 rand a ton. The yellow variety is used in animal feed.
Wheat for July delivery increased 0.5 percent to 3,827 rand a ton.