South African Corn Declines Most in a Week as Wheat Advances

Corn in South Africa, the continent’s biggest producer of the grain, fell the most in a week in Johannesburg trading. Wheat increased.

White corn for delivery in September dropped 1 percent to 1,720 rand ($162) a metric ton, the biggest drop since July 21, by the close on the South African Futures Exchange. The yellow variety fell 0.5 percent to 1,865 rand a ton.

Meal from white corn is used to make a South African staple food known as pap, while the yellow variety is used for animal feed. The nation is expected to produce its biggest crop since 1981.

Wheat for delivery in December rose for a third day, climbing 0.7 percent to 3,578 rand a ton.

Before it's here, it's on the Bloomberg Terminal.
LEARN MORE