September 11, 2008

Corn prices in South Africa rose after the rand traded at 8.03 a dollar at 9:17 a.m. in Johannesburg, compared with about 7.87 at the close of grain trading at noon yesterday, making imports more expensive.

White corn for December delivery, South Africa's staple food, the most active contract on the South African Futures Exchange, rose US$2.33, or 1 percent, to US$234.17 a tonne.

Yellow corn for December delivery, the grain used mainly for animal feed in South Africa, gained US$0.73, or 0.3 percent, to US$235.19.

Wheat for December delivery advanced US$3.8, or 0.9 percent, to US$406.74 a ton.

South Africa is the biggest producer of grains on the continent and the continent's third-biggest wheat producer, after Morocco and Egypt.