Loading…
S&P Global says El Niño may disrupt 2026-27 food supplies, with wheat output seen falling in Australia and the US and soybean output lower in Brazil and Argentina. Malaysian palm oil output may drop, while Brazil's corn crop could be larger.
Lower wheat, soybean and palm oil output in key exporters would tighten supplies and support prices. Brazil's larger corn crop partly offsets this for feed grains.
spglobal.comSampad Nandy, Aditya Kondalamahanty, Samyak PandeyJul 27, 2026After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
After 184 past bullish weather events, Soybean Oil moved a median +0.3% over 5 sessions (53% higher; middle half -1.9% to +2.4%), and -0.5% over 20.
After 181 past bullish weather events, Palm Oil moved a median +0.5% over 5 sessions (56% higher; middle half -0.9% to +1.9%), and +0.3% 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.
