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FAO and WFP say prolonged drought and heavy rain have destroyed more than half of maize and bean crops for subsistence farmers in the Central American Dry Corridor. They are requesting US$72 million for food assistance for 2019.
Crop losses in the Dry Corridor raise local maize import demand and keep white maize prices high. The scale is regional, so the effect on global corn and soymeal prices is limited.
fao.orgApr 26, 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.
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.
