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Pro Farmer reviews history showing strong El Niño years coincided with a rally in a major ag index about two-thirds of the time. It also reports funds built net long grain positions to a near 3.5-year high, with hedge funds buying 83,700 corn contracts and 50,300 soybean contracts.
Heavy speculative buying amplifies El Niño-driven weather risk, so prices could rally sharply but are vulnerable to liquidation if the weather threat fades.
profarmer.comBill WattsAug 26, 2026Not enough comparable past events yet for a historical read.
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.
Funds built large net long positions, buying 83,700 corn contracts, and El Niño narratives added speculative momentum.
