HomeNewsSouth African white, yellow corn climbs as rand weakens against dollar

South African white, yellow corn climbs as rand weakens against dollar

-

Corn rose in South Africa, the largest producer of the grain on the continent, as the rand weakened against the dollar, making imports more expensive for local millers.

White corn for March delivery, the most active contract, gained R17, or 1,3 %, to R1,351 ($193) a metric tonne on the South African Futures Exchange.

Meal made from the grain is the country’s staple food. The rand traded at 6,9650 to the dollar, compared with 6,8702 at the close of grain trading at noon on January 14.

Yellow corn for July delivery rose R16, or 1,1%, to R1,486 a tonne.

The grain is mainly used as animal feed in South Africa.

Wheat for March delivery advanced R19, or 0,7%, to R2,950 a tonne.

Recent Posts

Stories you will enjoy

Recommended reading