South African Corn Output May Increase to a Two-Year High
South Africa may reap 13 percent more corn this season, the biggest harvest since 2009-10 as farmers plant larger areas with the grain, according to the Crop Estimates Committee website.
Farmers may harvest 11.7 million metric tons, including 6.8 million tons of white corn and 4.9 million tons of yellow, Marda Scheepers, a spokeswoman for the committee, said by phone from Pretoria today. The forecast exceeds the 11.4 million-ton average estimate of seven traders polled by Bloomberg News.
More land was planted with corn in the Northern Cape, Free State, Mpumalanga, Gauteng, North West and KwaZulu-Natal provinces boosting output, Scheepers said. The nation produced 10.36 million tons last year.
White-corn prices have risen 26 percent over the past year on the South African Futures Exchange. The grain for July delivery closed at 2,035 rand ($270) a ton today. Yellow corn for July delivery closed at 2,000 rand a ton.
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