Share

SA corn price rises on rain concerns

Johannesburg - South Africa's yellow-corn futures have risen the most in almost two years on concern that there isn’t enough rain in Bloemfontein and North West.

Yellow corn for delivery in July surged 4%, or the R80 daily limit, to R2 078 a metric ton by the midday close in Johannesburg, the biggest increase for a most- active contract since February 2013.

The white variety for delivery in March climbed 4.1%, the most in 10 months, to R2 017 a ton.

There is a 30% chance of rain for Bloemfontein in the Free State province, which produces 43% of the nation’s corn.

No rain has been predicted for Tuesday and January 21, according to the South African Weather Service. Lichtenburg in the North West province, which contributes about 20% of national output, has the same chance of rain until January 23.

“The weather forecast for the next two weeks doesn’t predict much rain,” Brink van Wyk, a Pretoria-based trader with BVG, said in an e-mailed response to questions.

South Africa is the continent’s largest producer of corn, where the white variety is used as staple food for human consumption, while yellow corn is used as animal feed.

Wheat for delivery in March rose for a second day, adding 1.3% to R3 962 a ton. - Bloomberg

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.90
+0.2%
Rand - Pound
23.85
+0.2%
Rand - Euro
20.39
+0.2%
Rand - Aus dollar
12.31
+0.2%
Rand - Yen
0.12
+0.1%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders