Dryness prevails in the western part of the South African corn belt and only 70 to 75% of the planned areas with maize for the 2018 harvest are ordered there. This was announced today by the industrial association Grain SA.
The window of opportunity for an optimal sowing soon closes and the unexpected drought in the main growing region of South Africa's northwest will soon bring the futures prices on the exchange in Johannesburg out of the depression and thus also fuel inflation, according to a federation spokesman.
Parts of the maize growing region are also suffering from the effects of a heat wave. And La Nina has not yet brought the expected rain, as expected by this weather phenomenon in South Africa.
In October, officials said South Africa would grow 6% less corn in the 2017/18 season, with a record harvest of more than 16.7 million tonnes a year ago. Since then, prices have been trading at a low level.
By March, the weather services predict plenty of rain for the remainder of the summer.
Text: HANSA Derivatives Trading GmbH /
