22.06.2016 - Milder La Niña forecast for commodity markets
The La Niña weather phenomenon forecast to develop later this year will not be as strong as that of 2010-12 when severe droughts in key growing areas around the world devastated crops. “Climate models suggest it is unlikely to reach levels seen in the most recent event of 2010-12, which was one of the strongest La Niña events on record,” said the Australian Bureau of Meteorology in its latest analysis on Tuesday. La Niña, which is the opposite of El Niño, is caused by the cooling of the tropical Pacific Ocean. The weather event normally brings dryness in the US midwest and rainfall in Southeast Asia and Australia...............................................Full Article: Source
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