Bloomberg News

S. Africa May Say Farmers Will Produce 11.4 Million Tons of Corn

February 27, 2012

South Africa, the biggest corn producer on the continent, may forecast a crop of 11.4 million metric tons tomorrow.

The median estimate of seven traders surveyed by Bloomberg compares with 10.4 million tons produced last year.

The Crop Estimates Committee will release its first estimate for the season at 3:30 p.m. in Johannesburg.

The committee may say farmers will plant about 2.59 million hectares (6.4 million acres) with the grain, up from 2.37 million hectares last season, according to the median estimate of eight traders surveyed by Bloomberg News. Estimates ranged from 2.60 million to 2.66 million hectares.

White corn for July delivery, the most active contract on the South African Futures Exchange, rose 2.2 percent to 2,058 rand ($269) a ton by the noon close in Johannesburg trading. Yellow corn climbed 1.2 percent to 2,001.20 rand a ton.

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

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net


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