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Drought in India has pushed sorghum (jowar) and maize prices well above their government minimum support prices. Poultry operators face losses, and industry bodies are seeking relief from a 60% import duty on maize.
Indian drought-driven shortfalls lift domestic feed grain prices and raise pressure to cut import duties, which could eventually draw in imported corn and sorghum.
indianexpress.comParthasarathi BiswasJan 30, 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.
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.
