South Africa’s 2011-12 Corn Output Seen At 11.5M Tons On Dry Weather

South Africa’s 2011-12 Corn Output Seen At 11.5M Tons On Dry Weather

South Africa’s 2011-12 commercial corn production estimate has been revised downwards to 11.5 million metric tons, the U.S. Department of Agriculture’s Pretoria attache said in a report released, as dry weather during planting season meant it occurred two to four weeks later than was optimal.

Nevertheless, the USDA expects South Africa to be able to export an extra two million tons of corn in 2011-12 due to increased production, with total corn plantings standing almost 9% more than the previous year at 3.13 million hectares.

Corn plantings have increased in 2011-12 due to concerns that Argentina’s drought would limit global supplies, the USDA said, and because of record high domestic prices caused by exports depleting domestic stock levels.

Indeed, the USDA said corn exports will likely slow down over the next few months to reach 2.4 million tons by the end of the 2010-11 marketing year, as current stock levels could be depleted before the start of the new marketing season.

South Africa has already exported almost 2.15 million tons of corn, the USDA said, including 1.47 million tons of white corn and 684,000 tons of yellow corn.