Johannesburg - South African yellow corn futures slid to the lowest level in more than six months after the rand strengthened this week, lowering the cost of imports.
Yellow corn for delivery in December, the most active contract, dropped 0.6 percent to 2,133 rand ($217) a metric ton, the lowest settlement price since February 26, by the midday close on the South African Futures Exchange in Johannesburg.
The white variety for delivery the same month fell 1 percent to 2,296.20 rand a ton, the lowest since August 14.
The rand gained 0.9 percent against the dollar so far this week.
South Africa is the continent’s largest producer of the grain.
A meal made from white corn is one of South Africa’s staple foods and yellow corn is mainly used as animal feed. - Bloomberg News