Agricultural futures

YELLOW maize climbed to the highest level in more than 19 years yesterday, as South Africa’s dry spell continued in the crop’s main growing regions and after the US reduced its forecast for domestic output.

Yellow maize for delivery in December rose 1.9 percent to R2 957 a ton on the SA Futures Exchange, the highest closing level for a most-active contract since February 1996, when trading started.

It touched R2 977 during trading.

White maize for delivery in December increased 1.1 percent to R3 229 a ton, gaining a sixth consecutive day. – Bloomberg