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Citigroup and Morgan Stanley say the rand's strong quarter will not last, citing South Africa's recession, junk credit ratings and political turmoil. The rand has gained 3.1% against the dollar since end-March, but its predicted return for the next quarter is negative 2.1%.
A reversal in the rand would raise the local cost of imported feed inputs for South African buyers. The forecast is a currency outlook with no direct effect on global grain supply.
biznews.comAlec HoggJun 30, 2017Not 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.
