
Reuters explains that El Niño poses a risk to Indian monsoon rains. Drought would require India to import food and keep export restrictions in place, while good rains could ease restrictions on sugar, wheat and rice.
A weak monsoon would prolong Indian export curbs on grains and could force imports, tightening global supplies and supporting cereal prices.
After 179 past bullish weather events, Rough Rice moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.5%), and +2.2% over 20.
After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), 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.