Yellow maize gains to 4-month high

File image: Reuters

File image: Reuters

Published Oct 31, 2013

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Johannesburg - South African yellow corn futures gained to the highest level in more than four months by the noon close in Johannesburg.

Soybeans also rose.

Yellow corn for delivery in December rose 1.1 percent to 2,311 rand ($232) a metric ton, the contract’s highest since June 27, by the close on the South African Futures Exchange.

The white variety for delivery in the same month, increased 0.6 percent to 2,399 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 is mostly fed to animals.

Soybeans gained 1.4 percent to 5,860 rand a ton, the highest since September 3. - Bloomberg News

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