Yellow maize extends gains

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Johannesburg - South African yellow corn extended gains for a third day, increasing to the highest this month.

Prices for the white variety climbed for a second day.

Yellow corn for delivery in July rose 0.6 percent to 2,255 rand ($203) a metric ton at the noon close on the South African Futures Exchange in Johannesburg, the highest since January 31.

White corn for March delivery advanced 1.1 percent to 3,059.80 a ton.

South Africa is the continent’s largest producer of corn, also called maize.

Meal made from the white variety is used for a staple food known locally as pap and yellow corn is mostly fed to animals.

Wheat for delivery in March climbed 0.3 percent to 3,824 rand a ton.

Soybeans for delivery in May climbed 0.7 percent to 6,130 rand a ton. - Bloomberg News

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