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Grain Central explains the Indian Ocean Dipole and ENSO as drivers of Australian weather and describes how the negative IOD phase brings enhanced rainfall. The article notes sea-surface temperatures are moving in a favorable direction.
A shift toward a positive IOD or El Niño typically means drier Australian conditions and smaller wheat and barley crops, which would support export prices for feed grains.
graincentral.comGuest AuthorJun 25, 2019After 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% over 20.
Not enough comparable past events yet for a historical read.
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.
