Johannesburg - South Africa may keep its estimate for wheat production this season unchanged, a survey showed.
Farmers will probably harvest 1.78 million metric tons of wheat this season, according to a median estimate of four analysts in a Bloomberg survey, matching the Oct. 28 forecast by the Crop Estimates Committee. The range was 1.78 million tons and 1.80 million tons. The CEC will release its data on Nov. 25.
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 0.1 percent to 3,765 rand a ton by 10:25 a.m. on the South African Futures Exchange.
Bloomberg