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The WMO's May 2026 El Niño/La Niña update says El Niño is developing in the tropical Pacific, with an 80% chance of onset in June to August and near-90% odds of persistence to November. Most models forecast at least a moderate event, possibly strong, with above-average temperatures expected almost everywhere.
A confirmed El Niño raises the risk of crop stress in Asia, Australia and southern Africa and of wetter conditions in parts of South America. This supports a weather premium in feed markets without a single immediate price trigger.
reliefweb.intJun 2, 2026
wmo.intMay 29, 2026After 1,773 past weather events, Wheat (SRW) moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +2.1%), and +0.2% over 20.
After 1,964 past weather events, Soybeans moved a median +0.1% over 5 sessions (51% higher; middle half -1.7% to +1.8%), and +0.3% over 20.
After 2,467 past weather events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +1.7%), and +0.6% 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.
