Tranche 2 of the EPBC reforms creates a national EPA as Australia takes a negotiator role at Türkiye's COP31
Weather & Seasons
Monsoon, El Niño, forecasts — the weather that sets harvests and demand.
state of play
NOAA's June advisory puts a 63% chance of a very strong El Niño by November-January — potentially among the largest since 1950. Markets are front-running it: cocoa hit a 3.5-month high on West African dryness risk, with maize, robusta coffee and sugar exposed across the tropics. Impact depends on intensity, and prior-season stocks may blunt it. Watch the November peak and southern-Africa rainfall.
tracking
ENSO (El Niño / La Niña)
Storm seasons
Drought & heat
Space weather
latest
An official June advisory, with a 63% chance of a very strong event, pushes traders to front-run dry-season risk in West Africa and Southeast Asia