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Drought in South Africa, corn short
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1234
Posted 11/26/2015 21:03 (#4921185)
Subject: Drought in South Africa, corn short



Death comes to us all. Life's but a walking shadow
Drought in South Africa is starting to get the attention of the general press there. Quote: Corn prices have surged by more than 50% this year in South Africa, while dry weather caused by the El Nino weather pattern has disrupted planting. The price of yellow corn, known as maize in South Africa and used to feed animals, surged 47% this year to an all-time high of R3 215 ($227.25) a ton this month on the South African Futures Exchange in Johannesburg.
A couple of years ago South Africa was seen as an corn exporter and possible competitor. I would guess not this year. Assuming the $227/ton is metric ton then it's about $5.78/bushel.

Edited by 1234 11/26/2015 21:09
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