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Soybean futures decline
Soybean futures decline

Soybean futures decline


IOL Business/ Bloomberg News - Nov 21st, 12:04

Johannesburg - South African soybean futures declined the most in almost seven weeks. The oilseed for delivery in December, the most active contract, fell 1.8 percent, the biggest decline since October 1, to 6,250 rand ($619) a metric ton by the noon close on the South African Futures Exchange in Johannesburg.

Wheat for delivery next month slipped for a fourth day, losing 0.4 percent to 3,530 rand a ton.

White corn retreated 0.6 percent to 2,413 rand a ton, while the yellow variety decreased 0.5 percent to 2,361 rand.

South Africa, a net importer of wheat, is the sub-Saharan region’s largest producer of the grain after Ethiopia and the area’s biggest buyer after Nigeria and Sudan, according to US Department of Agriculture data.

The country is the biggest grower of corn, with the white variety used as a staple food and yellow used mainly as animal feed.© Independent On-line 2013. All rights reserved.  

Read more about: soybeans | oilseeds | futures | exports | agriculture

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