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Yellow maize resumes decline

Johannesburg - Yellow maize has resumed its declines in Johannesburg to a three-year low.

Wheat climbed.

File image: Reuters. Credit: REUTERS

Yellow maize for December delivery declined 0.4 percent to 1,785 rand a metric ton on the South African Futures Exchange in Johannesburg, the lowest settlement since July 12, 2011, after rising 0.1 percent on August 29.

Prices have been trading at or close to a three-year low since July.

Domestic production is set to be the largest since 1981, according to the government’s Crop Estimates Committee.

White maize dropped 0.6 percent to 1,744.60 rand a ton.

Wheat for delivery in December rose 0.2 percent to 3,659 rand a ton.

Wheat production is seen falling 4.8 percent to 1.78 million tons this year, the smallest since 2010, the government said on August 27. - Bloomberg News

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