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Dry, hot weather linked to El Nino is damaging the 2023 main-season maize crop in Guatemala's northern producing departments of Peten and Alta Verapaz. The seasonal output is forecast to be below average, and cereal import needs are expected to stay high in 2023/24.
A smaller Guatemalan maize crop will increase reliance on imported corn and raise demand for feed grains. The effect on global prices is limited given the country's modest size.
reliefweb.intFood, Agriculture Organization of the United NationsJul 14, 2023After 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.
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.
