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A brief from a regional climate outlook dated August 21, 2024 says models have reversed earlier forecasts, with La Niña now likely to develop instead of El Niño. Normal to above-normal rain is expected in the northern Sahel, Arabia and Indo-Pakistan for August and September, while Mali and Mauritania are expected to be dry.
Drier conditions in Mali and Mauritania and a shift toward La Niña could affect West African and South Asian crop output, but the impact on global feed prices is limited.
fao.orgAug 21, 2024After 2,467 past weather events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +1.7%), and +0.6% over 20.
After 1,964 past weather events, Soybeans moved a median +0.1% over 5 sessions (51% higher; middle half -1.7% to +1.8%), and +0.3% over 20.
After 1,773 past weather events, Wheat (SRW) moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +2.1%), and +0.2% over 20.
After 361 past weather events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +1.3%), and -0.2% 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.
