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The FAO-style Crop Prospects and Food Situation report says Southern Africa faces significant production declines from cyclone damage and rainfall deficits, while East Africa's first-season harvests were reduced by dryness. South America is forecast to see a production upturn in 2019, and Far East Asia cereal output is forecast to rise marginally.
A South American rebound and modest Asian gains point to ample coarse grain supply, which is bearish for corn and sorghum export prices, though Central American maize concerns offer limited support.
reliefweb.intFood, Agriculture Organization of the United NationsJul 4, 2019After 1,102 past bearish report events, CORN moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
Not enough comparable past events yet for a historical read.
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.
