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The Guardian reports that El Niño is a major threat to global rice supplies, as Pacific warming typically brings hotter, drier conditions to many regions. The article notes the impact on rice is still unclear.
Uncertainty over El Niño's effect on rice output adds upside risk to rice prices, given that Asia dominates world production and exports.
theguardian.comRebecca RatcliffeSep 7, 2023After 179 past bullish weather events, RICE moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.5%), and +2.2% 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.
