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Strong monsoon rains in India have brightened prospects for winter crops such as wheat, rapeseed and chickpeas, while excess rain damaged rice in parts of the south and west and delayed cotton supplies. Dry spells also spread fall armyworm, which damaged corn and may push India to import corn.
Possible Indian corn imports and weaker rice supply support global rice and corn prices, while cotton delays affect export timing.
reuters.comRajendra JadhavOct 11, 2019After 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 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 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% 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.
