Conab updates its 2024 view.

For the latest rolling June-August average the measurement is a strong El Nino at 1.1. This is tied for the sixth strongest El Nino at this time of year since 1950. El Nino is consistent with above trend yields for Argentine corn and soybeans. We would suggest its influence is sloppy for Brazilian corn and soybeans. The monthly update in the El Nino forecast will be on Thursday.

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