Johannesburg - South Africa, the continent’s biggest producer of corn, will probably lower its estimate for output of the grain by 2.5 percent from last month’s forecast and keep the area planted for wheat unchanged, a survey shows.
Farmers may harvest 11.5 million metric tons of corn, according to the median estimate of seven analysts surveyed by Bloomberg. That compares with the 11.8 million-ton prediction made by the Pretoria-based Crop Estimates Committee last month.
The range was 11.1 million tons to 11.8 million tons.
The committee will release its prediction on April 25.
South Africa produced 12.8 million tons in 2010, the biggest crop since 1982.
Meal made from white corn is one of the country’s staple foods and the yellow variety is mainly used as animal feed.
Producers will probably plant 551,200 hectares (1.36 million acres) of land with wheat in the coming season, the same area as the current season, according to the median of five analysts’ estimates.
The range was for 500,000 hectares to 550,000 tons.
The nation is a net importer of wheat and is sub-Saharan Africa’s largest producer of the grain after Ethiopia, according to US Department of Agriculture data.
South Africa is the region’s biggest importer after Nigeria and Sudan.
White corn for delivery in July, the most active contract, slipped 0.2 percent to 2,125 rand ($232) a ton by the close in Johannesburg today.
The yellow variety for delivery in the same month added 0.1 percent to 2,101 rand a ton. - Bloomberg News