South Africa white maize futures peak on hot, dry conditions.

South African white maize futures prices hit 11-month highs on Monday as a spell of hot, dry weather raised concerns about plantings and yields over a swathe of the maize belt. Maize is South Africa’s staple crop and policy makers such as the central bank, which will meet later this week on interest rates, monitor its price because of its implications for inflation, especially for lower-income households. The contract for delivery in March rose over 2 percent to 2,123.80 rand a tonne, its highest level in 11 months, before easing back to be 1.35 percent higher at 2,098 rand.