S. African Grains Decline Most in a Week in JohannesburgTshepiso Mokhema
Corn, wheat and sunflower seeds dropped the most in a week in Johannesburg trading.
White corn for December delivery declined 0.3 percent, the most since Sept. 4, to 1,751 rand ($160) a metric ton by the midday close on the South African Futures Exchange. The yellow variety for delivery in the same month lost 0.3 to 1,801 rand a ton, also the biggest loss in a week.
South Africa is the continent’s largest producer of corn. The white grain is used to make a staple food known locally as pap, while yellow corn is mainly fed to animals.
Wheat for delivery in December fell 0.5 percent to 3,660 rand a ton, while sunflower seeds for September delivery dropped 0.5 percent to 4,185 rand a ton. Both declines were the largest in a week.