No relief from high maize stocks

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This is 223 450t lower than the sixth forecast’s 13,32 million tons. Current SAFEX prices remain under pressure with the September 2010 white maize price sitting at R1 225/t and the yellow maize price at R1 297/t for the month.

The CEC calculated that the national white maize yield for summer 2009/10 will be 4,55t/ha and 5,15t/ha for yellow maize, and many maize farmers, especially those with smaller crops, stand to lose a lot of money.

The CEC’s latest crop estimates for sunflower seed is 516 265t, which is 2,36% under the sixth estimate. For soya beans, the yield forecast is 565 700t, or 0,26% less than the previous estimate. The expected ground nut crop remains unchanged at 87 880t, while the production forecast for sorghum decreased by 4,14%, or 10 000t, to 231 593t. For dry beans, the production forecast is also unchanged at 52 255t.