South Africa maize output seen doubling to record harvest.

South Africa will likely harvest a record 15.6 million tonnes of maize in 2017, double last year output after favourable weather conditions lifted yields. The fourth production forecast for the season, which is almost 6% higher than market expectations of 14.73 million tonnes, will be the largest crop since 1981 which reached 14.656 million tonnes. The staple white contract for September fell 2.35% to R1,794 per tonne, about 65% lower than its record of over R5,200 in January last year. The forecast may further depress maize prices, which will help break inflation and food prices while cutting the margins for farmers.