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MDA Weather Services forecasts a weak El Nino developing across Asia this year, bringing slightly below-normal rainfall to Australia, Southeast Asia and India. The meteorologist said the impact on crop production would be small.
Marginally drier conditions in Indonesia and Malaysia could slightly trim palm oil yields with a lag of about eight months, and a weaker Indian monsoon could affect rice and soybean planting, modestly supporting prices.
thestar.com.myThe Star OnlineMar 14, 2017After 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.
After 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.
After 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.
