Loading…
Computer models suggest an El Niño event will begin evolving in September and could be significant during the Northern Hemisphere winter. Dryness persists in Europe, eastern Ukraine, Russia's Volga basin and Canada's Prairies, and recent rainfall has been below normal in eastern Australia, Indonesia, Malaysia, parts of India and the Philippines.
Dry conditions in Australia, Indonesia and Malaysia threaten wheat, barley and canola in Australia and palm oil output in Southeast Asia, which could tighten supplies and support prices if El Niño strengthens.
world-grain.comDrew LernerSep 19, 2018After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
Not enough comparable past events yet for a historical read.
After 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.
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.
