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Soybean futures fall most in a week

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.

Soy beans are rebirthed in India as a drought ends. Credit: REUTERS

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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