South Africa, the continent’s largest corn producer, unexpectedly kept its forecast for this season’s harvest unchanged.
Farmers will reap 11.06 million metric tons of corn, consisting of 6.36 million tons of white corn and 4.7 million tons of yellow corn, unchanged from a May 24 forecast, Marda Scheepers, an official at the Pretoria-based Crop Estimates Committee, said by phone today. That compares with the median estimate from eight traders surveyed by Bloomberg for a reduction of 1.1 percent to 10.94 million tons.
“Next month, the majority of the crop will be harvested, which will give us a better idea,” she said.
The country may produce 673,550 tons of soy beans, a reduction of 2.5 percent from the previous estimate, while the groundnuts forecast was lowered by 8.2 percent to 60,290 tons and the sorghum crop estimate cut 2.8 percent to 137,150 tons, Scheepers said.
The sunflower seed estimate was kept at 527,110 metric tons and the dry beans forecast at 47,695 tons, Scheepers said. The estimates were based on “early indications of the pace of deliveries” registered with the South African Grain Information Service, an industry body, she said.
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