By Angus Brown | Source: CME, ASX
The Bureau of Meteorology’s (BOM) latest ENSO wrap released last week continues to point towards an El Nino developing over the coming months, with the chances of an El Nino remaining at 70%. These forecasts continue to limit grower forward and spot market sales, and support local prices, so it’s worth a look at where prices might go if we see an El Nino this year.
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