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South African domestic wheat prices fell during the week, and oilseed crushing margins stayed negative. The CEC's final summer crop estimate put the commercial maize crop at 11.26 million tonnes, 10% below 2018, while US corn prices remained under pressure from slow exports and uncertainty over US-China trade talks.
A 10% smaller South African maize crop tightens local feed grain supply, while weak US export demand and Brazilian and Argentine weather keep global corn prices under pressure.
farmingportal.co.zaNov 28, 2019After 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 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% over 20.
After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% 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.
