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World Weather, Inc. says a quick La Niña-to-El Niño transition is possible this spring and summer, which could bring lighter rainfall to Southeast Asia and India. The firm views the transition as overstated but warns several regions could see poor crop weather in the second half of the year.
Possible dryness across palm oil and rice growing areas could constrain output and support prices if the transition materialises.
millingmea.comFrankMar 16, 2023After 181 past bullish weather events, Palm Oil moved a median +0.5% over 5 sessions (56% higher; middle half -0.9% to +1.9%), and +0.3% over 20.
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.
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.
