Loading…
ABC News reports that El Niño could hit the Pacific at a vulnerable time, with Papua New Guinea farmers already facing about 12 months of drought and shifting rainy seasons. Local farmers are adapting planting practices to unpredictable weather.
Drought stress in Pacific island agriculture is mostly local and small in global terms, so price impact is limited, though it signals broader El Niño risk to regional food supply.
abc.net.auEvan WasukaApr 9, 2023After 2,467 past weather events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +1.7%), and +0.6% over 20.
After 1,964 past weather events, Soybeans moved a median +0.1% over 5 sessions (51% higher; middle half -1.7% to +1.8%), and +0.3% over 20.
After 1,773 past weather events, Wheat (SRW) moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +2.1%), and +0.2% over 20.
After 361 past weather events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +1.3%), and -0.2% 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.
