El Nino may stir grain markets more than Black Sea drought

Reuters: El Nino could have a bigger impact on grain and oilseed markets than drought in Russia and Ukraine, which may be alleviated before the crucial spring growth period, analysts said on Wednesday. "You can't have a drought problem overnight," David Hightower, president of research firm The Hightower Report, said of conditions in Russia and Ukraine. Speaking at the Global Grain conference in Geneva, he said El Nino, however, could have far-reaching effects if it lowers palm oil output in top producers......

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