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South Africa's dry conditions have delayed the summer grain planting season, with producers waiting for rain before preparing soil and planting maize and oilseeds. The commercial wheat crop estimate was cut 6.1% to 1.695 million tons due to drought and heat damage in the Western Cape and Free State.
A smaller South African wheat crop and delayed maize planting tighten local supply, supporting domestic feed grain prices and import demand.
farmingportal.co.zaFarming PortalOct 30, 2019After 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.
After 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.
