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Reuters survey respondents expect South African farmers to plant about 14% less corn this year, to roughly 2.0 million hectares, after dry weather delayed sowing and some northern regions were not planted. Corn prices in South Africa reached a two-year high on drought-related yield fears.
A smaller South African maize crop and drought-driven yield risk tighten regional feed grain supplies and support prices, which may increase import demand.
zmp.deJan 25, 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.
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.
