South Africa, the continent’s biggest corn grower, will probably increase its forecast for a bumper crop of the staple grain for a third time this year as yields continue to beat expectations.
Growers may reap 14.65 million metric tons of corn this year, according to the median estimate of three analysts and traders surveyed by Bloomberg. That compares with the 14.54 million tons forecast on April 25 by the government’s Crop Estimates Committee and would be the country’s second-largest harvest on record, only just trailing 1981’s 14.66 million tons. The committee will update its forecast on May 26.
