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The FAO's GIEWS country brief forecasts Zimbabwe's 2017 maize output at 2.1 million tonnes, well above the drought-reduced 2016 level, on expanded plantings and better yields. Grain import forecasts for 2017/18 were cut sharply.
A bumper domestic harvest reduces Zimbabwe's need for imported maize, which trims a small pocket of regional import demand and is mildly bearish for corn prices.
reliefweb.intJun 27, 2017After 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.
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.
