South Africa may lower corn forecast by 1.4 percent
White corn prices drop slightly, yellow corn rises
South Africa may lower its latest corn forecast by 1.4 percent, to 10.95 million metric tons from April's forecast of 11.1 million metric tons, according to the median of traders' data.
The gathered data ranged from estimates of 10.8 million metric tons to 11.1 million metric tons. White corn declined 0.2 percent on May 17 to 2,079 rand (US$250) per ton by the close in Johannesburg. The yellow variety, used as animal feed, rose for a fourth day by 0.1 percent to 2,040 rand (US$244) per ton.