El Niño weather hits many crops, boosts soybeans
Even in vulnerable regions "more rain for Indian wheat can be beneficial if it falls during the middle of its crop cycle but if it falls during harvesting, it can be detrimental," he said.
Michaela Kuhl, a commodity analyst at Commerzbank, said more information about El Niño's links to crops was welcome. She noted the International Cocoa Organization estimated in 2010 that cocoa yields fall 2.4 percent in El Niño years.
But she cautioned "it's very difficult to show an influence of El Niño because it doesn't work with the same manner and same strength" from one event to another.
The U.N. panel of climate scientists said in a report last year that downpours linked to El Niño may intensify this century. It said there are big uncertainties about whether global warming will affect the frequency of El Niño and La Niña