# El Nino farming stress will have wide economic impacts

> An Oxford Analytica briefing says the forecast El Niño could be unusually intense and disrupt southern hemisphere harvests. The negative growth impact on food producers may persist for years, with financial risks for developing-economy lenders and insurers.

- Date: 2023-09-15 · published 2023-09-15T12:00:00.000Z
- Category: weather · region Global · magnitude low
- Page: https://feedsoft.ai/events/34000-el-nino-farming-stress-will-have-wide-economic-impacts
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Expected intensity and timing of El Niño points to supply risk for the 2023-24 crop year, supporting grain and oilseed prices over the medium term.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-12-02 | [Agriculture woes will have wider impact in Argentina](https://feedsoft.ai/events/13994-agriculture-woes-will-have-wider-impact-in-argentina.md) | -9.7% | -1.7% |
| WHEAT | 2018-04-27 | [Farming News - Weather impacting on the Wheat Markets](https://feedsoft.ai/events/11223-farming-news-weather-impacting-on-the-wheat-markets.md) | +3.6% | +2.9% |
| WHEAT | 2023-06-16 | [FACTBOX: Mapping El Nino's impact on crop yields, global food trade in 2023-24](https://feedsoft.ai/events/35405-factbox-mapping-el-nino-s-impact-on-crop-yields-global-food-trade-in-2023-24.md) | +3.5% | -0.1% |
| WHEAT | 2017-05-02 | [Massive US storm impacts wheat markets \| Farm Online \| ACT](https://feedsoft.ai/events/6138-massive-us-storm-impacts-wheat-markets-farm-online-act.md) | -2.3% | -1.4% |
| WHEAT | 2018-06-19 | [El Nino odds firm \| Farm Online \| ACT](https://feedsoft.ai/events/64462-el-nino-odds-firm-farm-online-act.md) | -0.7% | -3.1% |
| SOY | 2018-04-03 | [Argentine drought hits farmers hard, undermining economy \| AP News](https://feedsoft.ai/events/65362-argentine-drought-hits-farmers-hard-undermining-economy-ap-news.md) | +1.1% | +0.2% |
| SOY | 2024-02-08 | [El Nino waning, La Nina to develop in second half of 2024](https://feedsoft.ai/events/31586-el-nino-waning-la-nina-to-develop-in-second-half-of-2024.md) | -1.6% | -2.7% |
| SOY | 2018-06-01 | [How drought will impact Argentina's economy, banks, insurers - BNamericas](https://feedsoft.ai/events/64371-how-drought-will-impact-argentina-s-economy-banks-insurers-bnamericas.md) | -4.3% | -15.4% |

## Sources

- doi.org: https://doi.org/10.1108/oxan-db281960

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