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OCHA issued a note estimating a 50-55% chance of El Niño for October-November, rising to 65-70% for late 2018 and early 2019. It cites the WMO confirmation of a 70% chance of development by the fourth quarter of 2018.
The note says impacts will begin before ENSO peaks and continue after it returns to neutral.
Humanitarian planners' warnings of drought in tropical regions signal possible crop shortfalls in food-insecure areas and tighter regional supplies. The price impact on feed commodities is indirect.
unocha.orgOct 10, 2018After 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.
