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Zimbabwe's Finance Minister Mthuli Ncube said the country's staple maize harvest is expected to halve to 1.1 million tons in 2024 because of El Nino-induced drought. He flagged a large grain deficit that threatens food security for poor households.
Zimbabwe will need heavy grain imports, adding modest demand for corn and wheat from exporters, though the country's volume is small relative to world trade.
reuters.comNyasha ChingonoDec 13, 2023After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
