Sunflower drops to 2 1/2-year low

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SunflowersYellow Reuters.

Johannesburg - Sunflower seeds in South Africa fell to the lowest level in more than 2 1/2 years in Johannesburg as maize also dropped.

Sunflower for delivery in September fell 1.3 percent to 4,189 rand a metric ton, the lowest settlement for a most-active contract since October 19, 2011, by the close on the South African Futures Exchange.

The nation’s Crop Estimates Committee will announce the seventh forecast for output of summer grains at 3:30 p.m. tomorrow.

Yellow maize for delivery in December decreased 0.6 percent to 1,842 rand a ton, while the white type fell 0.5 percent to 1,730 rand a ton.

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

The white type is a staple food, while the yellow variety is mainly used to feed animals. - Bloomberg News



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