S. African Corn Gains to Cap Second Consecutive Advance

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.

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