Bloomberg News

S. Africa May Leave Corn Crop Forecast Unchanged, Survey Shows

June 17, 2011

June 17 (Bloomberg) -- South Africa, the biggest corn producer on the continent, will probably leave its forecast for this season’s harvest of the grain unchanged, a survey showed.

The government may say farmers will reap 10.99 million metric tons of corn, the same as projected last month, according to the median estimate of 13 traders surveyed by Bloomberg. Forecasts ranged from 10.74 million tons to 11 million tons.

The government’s Crop Estimates Committee is scheduled to release its fifth assessment of the harvest on June 23 at 3:30 p.m. local time in Johannesburg.

White corn for July delivery, the most active contract on the South African Futures Exchange, fell 3 percent to 1,724 rand ($252) a ton as of the midday close in Johannesburg today. Meal made from the grain is the country’s staple food.

Yellow corn for July delivery dropped 3.3 percent, to 1,735 rand a ton. The grain is used mainly as animal feed in South Africa.

--Editors: Alastair Reed, John Deane.

To contact the reporter on this story: Mkhululi Mancotywa in Johannesburg at mmancotywa1@bloomberg.net

To contact the editors responsible for this story: Amanda Jordan at ajordan11@bloomberg.net


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