South Africa Raises 2014-15 Wheat-Output Estimate 0.2%, CEC Says

South Africa raised its forecast for wheat production by 0.2 percent, according to the Crop Estimates Committee.

Local farmers will probably produce 1.79 million metric tons of the cereal in the 2014-15 season, Marda Scheepers, a spokeswoman for the committee, said by phone from Pretoria today. That compares with the 1.78 million-ton median estimate of four analysts surveyed by Bloomberg, which matched the forecast released by the committee on Oct. 28.

While South Africa is the sub-Saharan region’s biggest producer of wheat after Ethiopia, it is still a net importer of the cereal, according to U.S. Department of Agriculture data. Wheat for delivery in March gained 0.2 percent to 3,690 rand ($335) a ton by the noon close on the South African Futures Exchange.

The committee lowered its prediction for output of malting barley by 0.1 percent to 317,511 tons and reduced its forecast for canola production by 6.7 percent to 133,000 tons.

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