Soybean futures fall most in a week

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Soybean

Reuters.

A local producer of soybeans shows off a handful of freshly harvested soybeans.

Johannesburg - South African soybean futures fell the most in more than a week on the South African Futures Exchange in Johannesburg.

Corn gained, while wheat slipped.

Soybeans for delivery in May declined 1.7 percent, the most since March 26, or 100 rand, to 5,860 rand a metric ton.

South Africa raised its estimate for the crop by 4 percent to 867,700 tons on March 27.

Wheat for delivery the same month fell 0.1 percent to 3,995 rand a ton.

Yellow corn gained 0.4 percent to 2,231 rand a ton, while the white variety rose 0.1 percent to 2,142 rand a ton.

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

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


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