# El Niño forecast may mean better maize prices

> Absa's Agricultural Outlook says there is more than a 50% chance of El Niño developing in the coming season, which could bring lower rainfall and higher temperatures to South Africa in November 2018 and early 2019. South African local maize for September 2018 delivery rose R75/t to R2,202/t. The report suggests similar conditions in the US could lift international maize prices.

- Date: 2018-08-10 · published 2018-08-10T12:00:00.000Z
- Category: weather · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/63455-el-nino-forecast-may-mean-better-maize-prices
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Expected drought risk in key summer crop regions could reduce 2019 maize supply and support corn and feed grain prices, though South Africa's large current stocks limit near-term impact.

## Read by commodity

- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2024-02-19 | [The El Niño weather pattern shapes 2024 commodity price forecast](https://feedsoft.ai/events/31589-the-el-nino-weather-pattern-shapes-2024-commodity-price-forecast.md) | -0.3% | +7.1% |
| CORN | 2026-06-26 | [Corn: Dry weather forecasts drive up corn prices](https://feedsoft.ai/events/18832-corn-dry-weather-forecasts-drive-up-corn-prices.md) | -1.3% | +5.3% |
| CORN | 2023-09-28 | [Risks to global food commodity prices from El Niño](https://feedsoft.ai/events/33997-risks-to-global-food-commodity-prices-from-el-nino.md) | +1.1% | +1.7% |
| CORN | 2026-04-24 | [Forecast for strong El Niño fans worries about global crops](https://feedsoft.ai/events/19633-forecast-for-strong-el-nino-fans-worries-about-global-crops.md) | +1.2% | +2.2% |
| CORN | 2019-01-25 | [Smaller acreage for maize in South Africa - prices rise](https://feedsoft.ai/events/61122-smaller-acreage-for-maize-in-south-africa-prices-rise.md) | +0.9% | +1.4% |

## Sources

- farmersweekly.co.za: https://www.farmersweekly.co.za/agri-news/south-africa/el-nino-forecast-may-mean-better-maize-prices/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.