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An explainer on El Niño and La Niña notes that Southern Africa tends to see drought in El Niño years and above-normal rain in La Niña years, while East Africa shows the reverse. It cites Tanzania's maize surplus in the last season, which filled Zimbabwe's shortfall.
The explainer offers background on regional rainfall patterns that shape East and Southern African maize supply and trade flows, but it reports no new price-moving event.
agricultureportal.co.zaFarming PortalMar 8, 2020After 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.
