"Wir sehen das Brot."
Translation:We see the bread.
No, your translation should be accepted as well.
Edit: I've just thought of something - isn't the verb "to see" usually used only in the simple aspect? When would you say "We are seeing XY" (not in the sense of "meeting", but of perceiving sth.)? Maybe an English speaker could comment on that :)
I can't think of a case where you would (other than in the meeting sense you pointed out, e.g. "we are seeing him later today"). I wouldn't go so far as to say that "We are seeing a fire" is incorrect, but it's very awkward and likely the only person you'd hear it from is non-native English speakers... "Mr hipp5, I am seeing that you have a credit card with us! I would like to offer you a special limited-time bonus for being a loyal customer"