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The India Meteorological Department forecasts a strong possibility of weak El Niño conditions developing this winter, with a mild warming already visible in the western Pacific. The department also expects slightly warmer-than-usual winter minimum temperatures across most of India, which could affect the wheat crop.
A developing El Niño raises the risk of a weaker Indian monsoon later in 2019, which could tighten Indian feed supplies and support demand for imported grains. Warmer winter temperatures may also affect wheat yields in the region.
thehindubusinessline.comOur BureauDec 3, 2018After 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.
After 31 past neutral weather events, Rough Rice moved a median -0.0% over 5 sessions (48% higher; middle half -2.1% to +2.1%), and -1.5% 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.
