# Unpacking the agriculture market's 2023 performance and forecasting 2024

> South Africa's 2022/23 summer crop harvest reached 20.74 million tonnes, up 6.8% year-on-year, with maize at 17.06 million tonnes. Early-2023 weather, extreme temperatures and loadshedding disrupted irrigation and forced some replanting before good rains recovered yields. The FNB economist reviews 2023 agricultural performance and outlines the 2024 outlook.

- Date: 2024-01-08 · published 2024-01-08T12:00:00.000Z
- Category: report · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/11087-unpacking-the-agriculture-market-s-2023-performance-and-forecasting-2024
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A larger domestic maize crop eases South African feed grain supply and reduces the need for imports. Electricity constraints remain a risk to irrigated output.

## Read by commodity

- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-09-02 | [US 2023 agricultural exports forecast 1% under record 2022 - Fastmarkets](https://feedsoft.ai/events/39568-us-2023-agricultural-exports-forecast-1-under-record-2022-fastmarkets.md) | -0.6% | -1.6% |
| CORN | 2020-06-07 | [Have the markets found a bottom? - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/9493-have-the-markets-found-a-bottom-agweek-1-source-for-agriculture-news-farming.md) | -0.3% | +2.8% |
| CORN | 2022-11-30 | [USDA Lowers FY 2023 Forecast for U.S. Agricultural Exports - Farm Policy News](https://feedsoft.ai/events/38741-usda-lowers-fy-2023-forecast-for-u-s-agricultural-exports-farm-policy-news.md) | -3.9% | +1.9% |
| CORN | 2024-02-29 | [Upper Midwest producers see solid crop yields in 2023 - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/13207-upper-midwest-producers-see-solid-crop-yields-in-2023-agweek-1-source-for.md) | +3.7% | +3.8% |
| CORN | 2021-03-12 | [Market shows what happens when the bulls don't get fed - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/5124-market-shows-what-happens-when-the-bulls-don-t-get-fed-agweek-1-source-for.md) | -9.6% | +2.3% |

## Sources

- bizcommunity.com: https://www.bizcommunity.com/Article/196/718/244956.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.