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Uganda's bimodal harvests are progressing after atypically early and above-average rainfall, with the green harvest of maize and pulses underway in eastern, central and northern areas. Food security in Karamoja has improved as sorghum retail prices decline, though heavy rains caused road damage and some crop losses.
Harvest is expected to be average to above average in most areas.
Improved Ugandan harvests reduce local import needs for maize and sorghum, which is bearish for regional grain demand. Impact on global feed grain prices is negligible.
reliefweb.intNov 29, 2019After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% over 20.
Not enough comparable past events yet for a historical read.
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.
