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.
Mecardo information is provided to assist in your marketing decisions. It contains a range of data and views on the current market. It is not intended to constitute advice for a specific purpose. Before taking any action in relation to information contained within this report, you should seek advice from a qualified professional. The information is obtained from a variety of sources and neither Mecardo nor Ag Concepts Advisory will be held liable for any loss or damage whatsoever that may arise from the use of information or for any error or mis-statement contained in this report.