The crash in grains from the spring highs is a consequence of planting too many acres when set against perfect El Nino weather. Over the next 45 to 60 days the market will assuredly imagine the most bearish over supply situation possible.
A moderate El Nino weather pattern would reduce palm oil output by as much as 12 percent in Malaysia, the world’s second-largest producer, IOI Corp. Chief Executive Officer Lee Yeow Chor said.
