
A Hectar Global rice analyst outlines how El Niño and La Niña have shifted crop yields, price volatility and trade flows over the past four years. The article says US rice output rose 64% in 2023/24 while India's fell 2.8%, and that wheat output rose in India and the US but fell in China and Australia.
Diverging production shifts between exporters and importers in rice and wheat can reshape trade flows and price spreads. The article offers background rather than a new supply shock.
After 31 past neutral weather events, Rough Rice moved a median -0.0% over 5 sessions (48% higher; middle half -2.1% to +2.1%), and -1.5% over 20.
After 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% 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.