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Wheat falls for second day

Johannesburg - South African wheat fell for a second day in Johannesburg trading, the first back-to-back declines in three weeks. Corn prices gained.

Wheat for delivery in December dropped 0.4 percent to 3,629 rand a metric ton by the noon close on the South African Futures Exchange.

The grain’s last consecutive slides were in the two sessions through July 14.

While South Africa is the sub-Saharan region’s biggest wheat producer after Ethiopia, it’s still a net importer of the grain, according to US Department of Agriculture data.

The nation is the area’s biggest buyer of the cereal after Nigeria and Sudan.

White corn for delivery in December advanced 0.2 percent to 1,805 rand a ton after falling the most since April 23 yesterday.

The yellow variety for delivery in the same month rose 0.2 percent to 1,900 rand a ton. - Bloomberg News

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