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The FAO warned that a likely transition from La Niña to El Niño could bring drought risk to southern Africa, Central America, the Caribbean and parts of Far East Asia. The agency is preparing anticipatory action with members and partners, and says northern South America and Australia also face dryness risk.
Drought risk across major producing and importing regions could tighten rice, corn and other feed grain supplies, supporting prices over the coming seasons.
fao.orgApr 27, 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 1,072 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.
