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A GIEWS country brief dated October 18, 2023 forecasts a high probability of below-average rainfall in Zimbabwe from October 2023 to February 2024. Planting of the 2024 cereal crop begins in November.
Above-average temperatures add heat-stress risk, and the brief notes that currency weakness and double-digit inflation limit farmers' input purchases.
A likely poor 2024 maize harvest in Zimbabwe would increase the country's import needs. The impact on global corn prices is small because Zimbabwe is a minor trade player.
reliefweb.intOct 18, 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.
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.
