When El Niño Hit European Crops, the Black Sea War Hit Too

El Niño hit European crops through a run of summer heatwaves that cut the maize harvest just as the Black Sea war limited Ukrainian exports. Bertrand Oesterle, Vice President of Clearing and Execution Sales at StoneX, explains how an early El Niño event compounded with the war in Ukraine to tighten European grain supply. Record heat pushed the Rhine and Danube to record lows and left the EU maize crop well below early-season estimates, lifting import needs for maize and rapeseed. Mediterranean and Middle East buyers turned to European suppliers, livestock producers faced less grazing and lingering dryness slowed EU winter wheat planting. 0:00 El Niño Behind Europe's Heat 0:49 Rhine and Danube Sank to Lows 1:28 Europe's Maize Crop Fell Short 2:18 Cattle Herders Weighed a Cull 2:43 Importers Turned to EU Grain 3:30 Dryness Put Next Wheat at Risk 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 #Grains --------- 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