Johannesburg - South African wheat futures for December delivery fell for a third day to the lowest level in two weeks by the close in Johannesburg. Corn gained.
Wheat for delivery next month, the most active contract, slipped 0.3 percent to 3,544 rand ($347) a metric ton, the lowest since November 1, by the noon close on the South African Futures Exchange.
South Africa, a net importer of wheat, is the sub-Saharan region’s largest producer of the grain after Ethiopia and the area’s biggest buyer after Nigeria and Sudan, according to US Department of Agriculture data.
Yellow corn for delivery in December rose 0.5 percent to 2,381 rand a ton, while the white variety due in the same month rose 0.1 percent to 2,430 rand a ton.
South Africa is the continent’s biggest corn producer.
A meal made from white corn is a staple food in the nation and the yellow variety of the grain is mostly fed to animals. - Bloomberg News