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The Philippine Department of Agriculture says El Niño damage has risen to P7.96 billion, with 447,889 metric tons of lost output. Rice losses doubled to P4.04 billion and corn losses reached P3.89 billion, though the government says production targets can still be met.
Philippine rice and corn losses increase import demand in Southeast Asia and can support regional rice and corn prices. Losses are small relative to the national targets, so the global impact is limited.
bworldonline.comCEDTyCleaApr 26, 2019After 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 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.
