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The Philippines DSWD report says El Niño conditions weakened by March 2024 but are expected to persist into March-May. Dry conditions have caused crop and livestock damage and water shortages, with several Mindoro and Zamboanga localities declaring states of calamity.
PAGASA has raised a La Niña Watch, with a 55% chance of La Niña developing by June-August.
Drought damage to rice and local crops in a major importing market can tighten Asian rice supply and support prices.
reliefweb.intMar 27, 2024After 179 past bullish weather events, Rough Rice moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.5%), and +2.2% 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.
