Agricultural futures

SOUTH African wheat imports surged to the highest in at least 14 years.

The nation imported 1.72 million tons of wheat in the marketing season through September, the SA Grain and Information Service said yesterday. That is the most since at least 1998, according to data on the organisation’s website.

The biggest sources of imports were Argentina at 651 968 tons and Brazil at 276 420 tons.

Wheat for the December delivery, the most active contract, dropped 0.4 percent to R3 499 a ton by the midday close. Wheat futures have climbed 27 percent this year. – Bloomberg