JOHANNESBURG, South Africa (Reuters) — South Africa is likely to raise its corn production forecast for this year after late season rain boosted yields.
It likely puts the country on track for its biggest harvest in more than three decades.
The government’s Crop Estimates Committee (CEC) is likely to raise the forecast to 13.1 million tonnes from a previous estimate of 12.955 million tonnes, according to an average estimate of four trading houses polled by Reuters.
The estimates ranged between 13 million tonnes and 13.333 million tonnes.
The CEC said last month a harvest of about 13 million tonnes or higher will be the largest since 1981, when the corn crop was 14.4 million tonnes.
Corn is a staple crop in South Africa and a bigger crop will be a relief for the country after large export commitments depleted last year’s stocks.
