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The Times Group reports that Malawi's Department of Climate Change and Meteorological Services says it is too early to forecast the coming growing season, although La Niña is possible. The department expects La Niña to bring heavy rain to southern Malawi and below-average rain to the north, and says drought occurred in only 5% of La Niña years since 1971.
Malawi is a small maize importer and exporter, so the local outlook has little effect on feed grain prices. It does matter for regional food security.
times.mwTaonga SabolaJul 16, 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.
