CEC Actual 3rd production estimate

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The CEC reported South Africa’s 3rd summer maize production estimate at 7.065mil t or 2.63% (190,475t) lower than the previous estimate of 7.255mil t. The lower estimate was due to a decrease estimate of 19,000 ha in maize planted which in turn was due to the continued drought in the Free State and parts of the North West province. This estimate was slightly lower than a Bloomberg poll which expected a decline to 7.1mil t as shown by the red solid(current estimate) and dotted line(market exp) in the graph below. White maize production was adjusted lower by -3.92% (-125,125t) to 3.07mil t whilst yellow maize production was adjusted lower by 1.61% (65,350t) to 3.99mil tActual 3rd prod est