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Maize declines as Chicago price falls

Johannesburg - Corn in South Africa declined as the price of the grain retreated in Chicago.

Yellow corn for delivery in July fell 0.4 percent to 2,208 rand a metric ton by the midday close on the South African Futures Exchange.

The white variety dropped less than 0.1 percent to 2,105 rand a ton.

Corn futures on the Chicago Board of Trade, the global benchmark, declined 0.9 percent to $5.0425 a bushel by 8:39 a.m. local time.

South Africa is the continent’s largest producer of corn.

Meal made from yellow corn is fed to animals while the white type is used to make staple food, known locally as pap.

Wheat fell 0.5 percent to 3,931.20 rand a ton in Johannesburg. - Bloomberg News

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