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South African agribusiness economist Wandile Sihlobo expects another good wet season in 2020/21 after a strong 2019/20 harvest, which was the country's second-largest grain crop on record. He notes that rainfall timing has become harder to forecast.
A good South African harvest would ease regional maize import demand and add modest supply pressure on white and yellow corn in southern Africa, with little effect on global prices.
ofm.co.zaCHRISTAL-LIZE MULLERJul 28, 2020After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% 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.
