WHEAT for delivery in March, the most active contract, declined as much as 2.2 percent to R3 919 a ton, on the SA Futures Exchange yesterday morning, the lowest since contract started.
South Africa’s wheat harvest for last year seen at 1.88 million tons, according to a Bloomberg survey released on Wednesday. That would be 30 percent bigger than the 2015 crop.
Meanwhile, global grain production to rise 4.4 percent year-on-year to 2.094 billion tons in the 2016-17 season, the International Grains Council said in a report. That is up from a previous forecast of 2.084 billion tons. – Bloomberg