Fishmeal Flashed an El Niño Warning Grain Markets Missed

El Niño fishmeal losses gave grain and oilseed markets an early warning, as Peru's anchovy catch fell far short of quota months before El Niño was declared. Bertrand Oesterle, Vice President of Clearing and Execution Sales at StoneX, explains why fish markets flagged El Niño's timing before grain markets did. Peru's government flagged a state of emergency, high sea temperatures put a second anchovy catch in doubt and weak mackerel and sardine catches in Southern Africa and India cut fishmeal and fish oil production sharply. Rising fish feed costs squeezed salmon producer margins, while a deadly algal bloom in Chile came before El Niño's official start. 0:00 Fishmeal Flagged El Niño Early 0:40 Peru Raised a Fishmeal Alarm 1:20 Peru's Second Catch in Doubt 1:48 Fishmeal Output Fell by Half 2:15 Chile Bloom Predated El Niño 2:32 Two Industries, One Missed Cue Discover Actionable Insights with StoneX Market Intelligence https://shop.stonex.com/collections/all?utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_bertrand_oesterle&utm_content=share Like and subscribe for more financial market insights. Watch the full video: {{SOURCE_VIDEO_URL}} #ElNino #StoneX #BertrandOesterle #Aquaculture --------- Like this video? Subscribe and turn on notifications so you don't miss any videos from StoneX: https://www.youtube.com/@stonex_official Visit https://www.stonex.com/en/insights/thought-leadership/?utm_source=youtube&utm_medium=social for insights, perspectives and thought leadership from StoneX's global network of experts. Visit our website: https://www.stonex.com?utm_source=youtube&utm_medium=social