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The WMO outlook for East Africa's October–December short rains season warns of a severe drought, likely the worst in 40 years after four poor seasons. Forecasts call for drier-than-normal conditions and above-average temperatures.
The June–September season may see wetter conditions in northern parts of the region.
Drought in East Africa increases regional dependence on imported grain and feed, supporting import demand. The effect on global prices is limited because the region's import volumes are small.
wmo.intJun 3, 2022After 2,467 past weather events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +1.7%), and +0.6% over 20.
After 1,964 past weather events, Soybeans moved a median +0.1% over 5 sessions (51% higher; middle half -1.7% to +1.8%), and +0.3% over 20.
After 1,773 past weather events, Wheat (SRW) moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +2.1%), and +0.2% over 20.
After 361 past weather events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +1.3%), and -0.2% 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.
