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A GIEWS country brief for Namibia forecasts a poor 2024/25 rainfall outlook, with below-average rain likely in key northern areas from November to March. The 2023/24 cereal harvest was about a third below the five-year average after El Niño-linked drought.
Namibia is a small import market, so rising cereal import needs add modest regional demand for maize and wheat. Global price effects are minimal.
reliefweb.intOct 9, 2024After 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.
After 1,072 past bullish weather events, WHEAT moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% 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.
