Johannesburg - South African corn futures declined as the rand gained against the dollar, making imports for the grain cheaper.
White corn for delivery in December, fell 0.5 percent to 2,277.80 rand ($226) a metric ton by the close on the South African Futures Exchange.
The yellow variety for delivery in September dropped 0.6 percent to 2,212.20 a ton.
The rand gained for the first time in four days as stocks and commodity prices rebounded before interest-rate decisions from the European Central Bank and the Bank of England.
“The rand was slightly stronger,” Benjamin Swanepoel, a trader at Trademar Futures (Pty) Ltd., said in an e-mailed statement from Johannesburg.
South Africa is the continent’s largest producer of corn. Meal from the white variety is a staple food, while yellow corn is mainly used as animal feed.
Wheat for delivery in December gained 1 percent to 3,417 rand a ton. - Bloomberg News