What Might El Nino have in Store for Wheat?
One of the biggest stories of the summer was the strong El Nino conditions. By several measures, current conditions are among the strongest El Nino measurements in history (Secord or third highest since 1950). Recent media articles have also citied El Nino related agricultural production issues to higher dairy, sugar, palm oil, and wheat prices. It appears, however, that the most significant impact will occur this winter.
This got us wondering how current El Nino conditions might impact the winter wheat crop. Similar to our post earlier this summer, which considered corn and soybean yields, this week we take a look at historic El Nino conditions to glean potential insights for the US winter wheat crop. (more…)