# Global Ag News for Sept 19.23 - ADM Investor Services

> ADM Investor Services reported that Australia's Bureau of Meteorology declared El Niño with a positive Indian Ocean Dipole, expected to persist to at least February. Futures were down week to date across grains and oilseeds, with soybeans down 29 cents and wheat down up to 20 cents.

- Date: 2023-09-19 · published 2023-09-19T12:00:00.000Z
- Category: weather · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/34184-global-ag-news-for-sept-19-23-adm-investor-services
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

El Niño raises drought risk for Australian grain and oilseeds, a supportive factor, though the week's broad futures decline reflects weaker near-term demand and harvest pressure.

## Read by commodity

- SOY: neutral
- CORN: neutral
- WHEAT: bullish ▲
- CANMEAL: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-09-27 | [Global Ag News for Sept 27.24 - ADM Investor Services](https://feedsoft.ai/events/28355-global-ag-news-for-sept-27-24-adm-investor-services.md) | +0.9% | -6.0% |
| WHEAT | 2023-06-15 | [Global Ag News for June 15.23 - ADM Investor Services](https://feedsoft.ai/events/6887-global-ag-news-for-june-15-23-adm-investor-services.md) | +4.2% | +0.3% |
| WHEAT | 2024-07-09 | [Global Ag News for July 9.24 - ADM Investor Services](https://feedsoft.ai/events/11198-global-ag-news-for-july-9-24-adm-investor-services.md) | -4.0% | -2.8% |
| WHEAT | 2024-07-29 | [Global Ag News for July 30.24 - ADM Investor Services](https://feedsoft.ai/events/13561-global-ag-news-for-july-30-24-adm-investor-services.md) | -4.2% | -6.9% |
| WHEAT | 2024-04-23 | [Higher Wheat Futures on Weather - ADM Investor Services](https://feedsoft.ai/events/12143-higher-wheat-futures-on-weather-adm-investor-services.md) | -1.3% | +22.1% |
| PALMOIL | 2020-10-07 | [Black Sea Futures at All-Time Highs - ADM Investor Services](https://feedsoft.ai/events/12137-black-sea-futures-at-all-time-highs-adm-investor-services.md) | +4.4% | +8.0% |
| PALMOIL | 2023-09-01 | [Global El Niño forecasts predict a Very Strong event for 2023/24](https://feedsoft.ai/events/34476-global-el-nino-forecasts-predict-a-very-strong-event-for-2023-24.md) | -4.5% | -7.0% |
| PALMOIL | 2026-04-24 | [Forecast for strong El Niño fans worries about global crops](https://feedsoft.ai/events/19633-forecast-for-strong-el-nino-fans-worries-about-global-crops.md) | -0.0% | -1.4% |

## Sources

- admis.com: https://www.admis.com/global-ag-news-for-sept-19-23/

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