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The Nino3.4 sea surface temperature anomaly stayed in the neutral range in July 2018, with the 3-month average near zero. Models point to a late, weak to possibly moderate El Niño from September-November 2018, and the outlook notes that its impact on Southeast Asia is expected to be limited given the late and likely weak development.
Southeast Asia drought risk tied to El Niño is a factor for palm oil output, but the outlook says the expected impact is not significant, which limits the bullish case for palm oil prices.
elninoreadynations.comadminSep 27, 2018After 19 past neutral weather events, Palm Oil moved a median +0.2% over 5 sessions (53% higher; middle half -0.4% to +1.1%), and +2.4% 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.
