White maize falls to lowest since 2011

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Johannesburg - South African white corn dropped to the lowest level in almost three years at the midday close on the South African Futures Exchange in Johannesburg, while the yellow variety also fell.

White corn for delivery in July declined 0.5 percent to 1,853 rand a metric ton, settling at the lowest since July 21, 2011.

Yellow corn fell 0.2 percent to 1,974 rand, the lowest since February 13, 2013.

South Africa is the biggest corn producer on the continent.

Meal made from the white variety produces a staple food called pap, while the yellow grain is used as animal feed.

Wheat was unchanged at 3,860 rand a ton. - Bloomberg News

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