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India's monsoon rains are at a five-year low because of El Niño. The monsoon supplies nearly 70% of the country's rain for crops and reservoirs, and shortfalls could raise prices for staples such as sugar, pulses, rice and vegetables.
A weak Indian monsoon cuts kharif rice and coarse grain output, and India's large rice exports could tighten, supporting global rice and feed grain prices.
reuters.comRajendra JadhavSep 30, 2023After 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.
After 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 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), 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.
