August 29, 2012
South Africa ups 2012 corn output forecast
Citing higher-than-expected deliveries to silos, South Africa raised its 2012 corn crop forecast to 11.192 million tonnes from 10.836 million tonnes last month.
The harvest estimate was slightly higher than market expectations of 10.919 million tonnes, according to a Reuters poll.
White corn output for the season is now expected to be 6.362 million tonnes, while yellow corn output is forecast at 4.83 million tonnes.
The Crop Estimates Committee (CEC) also said South African wheat farmers are likely to produce 1.764 million tonnes this year, compared with two million tonnes last season.
