Many have doubted forecasts calling for the onset of the first La Niña in almost five years, believing that its failure to materialize in convincing fashion last summer – as originally predicted – means that it may be off the table for 2016-17. But in recent weeks, the oceans and atmosphere have been pulling everything into place to facilitate a potentially stronger La Niña than previously thought, so those who follow commodities markets may want to take a second look. Last Thursday, the U.S. Climate Prediction Center reissued the La Niña watch that was removed in early September. The watch indicates that conditions are favorable for the phenomenon’s development within the next six months. El Niño-Southern Oscillation, with its cool phase La Niña and warm phase El Niño, is one of the most reliable long-term indicators for global climate. The ENSO phases can have drastically different impacts on commodities […]