Bloomberg News

South African Sunflower, Soybeans, Wheat Decline as Rand Gains

October 11, 2012

South African sunflower, soybeans and wheat fell after the rand appreciated for a third day against the dollar, making imports cheaper.

Sunflowers for December delivery dropped 2.1 percent, the most for the contract on record, to 5,820 rand ($667) a metric ton by the close in Johannesburg. Soybeans for delivery in the same month fell 0.1 percent 5,490 rand a ton, while wheat declined 0.2 percent to 3,570 rand a ton.

The rand climbed as much as 1.1 percent to 8.6493 against the dollar today amid signs labor unrest that shut gold and platinum mines and spread to the transportation industry is easing.

“The currency rate that has gained is affecting crops today,” Thys Grobbelaar, an analyst at Klerksdorp, South Africa-based Senwes Ltd., said by phone.

To contact the reporter on this story: Tshepiso Mokhema in Johannesburg at tmokhema@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net


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