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At the SA Grain Congress, trader Werner Rossouw projected record South African grain consumption for 2018/19, including 11.05 million tons of maize and 3.3 million tons of wheat. He also reported record soybean crush of 1.34 million tons and record sunflower consumption, with low ending oilseed stocks.
Record local demand and tight oilseed stocks support domestic crush and import needs, while wheat is expected to trade sideways at import parity.
sagrainmag.co.zasagrainmag.co.zaApr 15, 2019After 151 past bullish macro events, Corn moved a median +0.2% over 5 sessions (57% higher; middle half -0.9% to +1.4%), and -0.3% over 20.
After 123 past bullish macro events, Soybeans moved a median +0.3% over 5 sessions (60% higher; middle half -1.0% to +1.8%), and -0.4% over 20.
After 13 past neutral macro events, Wheat (SRW) moved a median -0.3% over 5 sessions (46% higher; middle half -2.0% to +0.2%), and -2.0% 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.
