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SA wheat drops to a three-month low

Johannesburg - South African wheat futures dropped to the lowest level in more than three months in Johannesburg.

White and yellow corn declined.

Wheat for delivery in July fell 1 percent to 3,814.60 rand a metric ton, the lowest since February 28, by the midday close on the South African Futures Exchange.

The nation, which is a net importer of wheat, is sub-Saharan Africa’s largest producer of the grain and the region’s biggest importer after Nigeria and Sudan, according to US Department of Agriculture data.

White corn declined 0.5 percent to 1,877 rand a ton, while the yellow variety fell 0.3 percent to 1,995 rand a ton. - Bloomberg News

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