South Africa corn futures up on worries of insufficient rain

Country is continent's largest corn producer

South African corn futures have gone up two days in a row on concerns that lack of rain will affect the crop in one of the country’s main growing regions, according to reports.

Yellow corn for delivery in July rose 0.3 percent to 2,098 rand (US$232) per metric ton by the close of January 29 on the South African Futures Exchange in Johannesburg. The white variety increased 0.1 percent to 2,188 rand (US$242) per metric ton. South Africa is the continent’s largest producer of corn.