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The GEOGLAM Crop Monitor for Early Warning (No. 89, published December 7, 2023, conditions as of November 28) reports mixed harvests in East Africa from flooding, favourable West African conditions, and El Nino-linked dryness in southern Africa. It also notes dry conditions in parts of Central and South Asia and drought affecting Thailand's rice.
Mostly regional food-security signals with limited global price impact, though Thai rice drought and El Nino dryness support a firmer rice outlook.
cropmonitor.orgDec 7, 2023cropmonitor.orgDec 7, 2023After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% over 20.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 88 past bullish report events, Rough Rice moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +2.1%), and +2.5% 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.
