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World Weather, Inc. said the El Niño's effect on agricultural regions across North and South America has been milder than expected so far. Rainfall in the 90 days to November 2 was above normal in parts of Ecuador and Chile, and below normal in Peru, northwestern Argentina, and parts of Mexico and Texas.
Changing rain patterns could still affect fresh produce in South America, California and the southeastern US.
A milder El Niño reduces the risk of large crop losses in the Americas, which limits upside pressure on feed grains. Dry spots in Peru and Argentina remain a watch item for fishmeal and oilseed supply.
freshplaza.comMarieke HemmesNov 5, 2026After 2,467 past weather events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +1.7%), and +0.6% over 20.
After 1,964 past weather events, Soybeans moved a median +0.1% over 5 sessions (51% higher; middle half -1.7% to +1.8%), and +0.3% over 20.
After 1,773 past weather events, Wheat (SRW) moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +2.1%), and +0.2% over 20.
After 361 past weather events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +1.3%), and -0.2% 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.
