South Africa: Grain and Feed Update
Link to report:
South Africa produced its second highest corn crop in history in the 2019/20 MY. This 16.1 million-ton bumper crop has suppressed local corn prices, and is expected to continue doing so past the 2020/21 MY’s planting season, which will put downward pressure on the area to be planted with corn later in 2020. As a result, Post forecasts that South Africa’s corn crop for the 2020/21 MY could drop by 21 percent to 12.6 million tons. However, South Africa should remain a net exporter of corn in the 2020/21 MY, as stock levels will still be relatively high. Post estimates South Africa could export about 2.5 million tons of corn in the 2019/20 MY on the back of the bumper crop.
