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Turkey expects 2019 grain output to rise 1.1% to 34.8 million tonnes. South Africa's 2019 maize crop is seen 13% lower after dry conditions, and Tanzania will export 700,000 tonnes of maize to El Nino-drought-hit Zimbabwe.
Egypt has procured 3 million tonnes of local wheat.
South African maize shortfall and regional drought support maize and feed grain prices in southern Africa, while Tanzanian exports partly offset the gap. Egypt's domestic procurement reduces its import needs.
brecorder.comMay 30, 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 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% 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.
