WANDILE SIHLOBO: Grain and oilseed forecasts take a dive as dryness threatens global outputs
Prices could remain elevated on doubts over the size of South American and Black Sea harvests
It is not my usual practice to revisit the subject of a previous column. But in this instance I am compelled to do so because of the fast-changing global agricultural outlook and its implications for prices.
The sentiment around 2020/2021 global grain and oilseed production is now somewhat less optimistic due to a possible downward revision to the respective harvests. This comes amid doubts over the potential size of South American and Black Sea grain and oilseed harvests because of dryness threatening crops...