“The main features right now are the ocean temperatures are quite warm for this time of year,” Michelle L’Heureux, a meteorologist at the center, told Bloomberg. “Right now, we have a pretty robust El Nino event going on.”

The changing weather conditions will affect agricultural commodities prices ahead, especially around the September planting season. For instance, Australia’s high-protein wheat crop will likely take a hit due to the drier conditions across the country’s eastern grain belt, Reuters reports.

Soybean production in India, Asia’s second-largest producer, could diminish El Niño causes dry conditions in the western and central regions of the country.

Chinese and Indian corn production, a water-intensive crop, could also fall. Consequently, U.S. and South American suppliers could export more to Asia.

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Max Chen contributed to this article.