CEC Estimate forecast March

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Tomorrow the CEC will release their 2nd crop estimate, or their ‘3rd production estimate’, for the 2016 South African summer crop.  The CEC Estamatepreliminary crop estimate of 7.438mil t , back in January, has since been decreased to 7.26mil t and is still expected to decline even further in tomorrow’s report to 7.1mil t, according to a Bloomberg survey of 10 analyst/traders.  Below is a line graph showing the current year projections in red vs the prev 7yr’s