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GEOGLAM issued a special alert on El Niño-induced drought in Southern Africa, citing a record dry spell of over 50 days from late January to early March. Crop failures occurred in central and southern areas, and States of Emergency were declared in Zambia, Zimbabwe and Malawi.
Widespread crop failure in a major maize-importing region raises regional import demand, supporting global maize prices as buyers source supplies from outside the region.
geoglam.orgGEOGLAMApr 8, 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.
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.
