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Ivory Coast's meteorology directorate warned El Niño could cut the country's 2026/27 cocoa output by 21%-25% as annual rainfall may fall 10%-27%. Port arrivals are running well behind last year, while ICE cocoa exchange stocks have reached their highest level in over two years.
A sharp cocoa shortfall is a bearish signal for cocoa-linked feed byproducts only indirectly, so the direct feed impact is limited; the story mainly signals weather-driven tightness in tropical crops and is largely a cocoa-market story rather than a feed-grain driver.
admis.comMark BowmanNov 12, 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.
