South Africa maize price has declined amid falling prices for this type of grain traded in the U.S., world's largest producer.
White Grains corn for March delivery fell by 1.3%, price was 2182.2 rand (254 dollars) per ton on South African commodity exchange in Johannesburg.
Yellow grains corn for July delivery became available for 1.6% and registered at price level 2075 rand per ton. Today in domestic market, a decrease in prices quotes for maize was remarked. The main reason was the fall in maize prices by the end of trading session in Chicago last week, analysts said. South Africa is the largest producer of corn in the African continent. White Grains maize is a staple food in South Africa; meanwhile, Yellow grains corn is mainly used as fodder.
Soybeans for delivery in the same period fell in price by 2.1% to 4,610 rand per ton.