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FAO/GIEWS Special Alert No. 352 says El Niño-linked drought has damaged 2024 cereal crops across Southern Africa, with harvests expected below average from May and recovery considered negligible. Import requirements are forecast to rise, with supplies likely sourced from outside the region, and acute food insecurity could worsen in 2024/25.
A sharp rise in import needs from outside Southern Africa would tighten export availability and support maize and wheat prices, especially as the region's harvest shortfall is locked in.
reliefweb.intFood, Agriculture Organization of the United NationsApr 23, 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 (SRW) 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.
