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A strong El Niño is nearing its peak, deepening drought across many regions and already shrinking rivers, disrupting aquaculture and damaging crops. Global food security organizations warn that the climate event, combined with aid cuts and war-driven energy and fertilizer shortages, could leave millions more people without enough to eat.
Drought damage to crops in Asia, Africa and South America tightens grain and rice supplies and supports feed grain prices, while fishery losses reduce fishmeal availability for feed buyers.
e360.yale.eduNicola JonesNov 5, 2026After 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.
After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 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.
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.
