Lower precipitation and droughts across Australia could decimate wheat and other crops. The Teucrium Wheat Fund (NYSEArca: WEAT) is the only ETF to track wheat price movements. [Extended El Niño Could Sustain Grains Commodity ETF Rally]

The dry weather could also mean less water to run hydro-powered mining equipment in Indonesia, the largest nickel producer in the world. The diminished production would affect nickel exchange traded notes, including the iPath Dow Jones-UBS Nickel Total Return Sub-Index ETN (NYSEArca: JJN) and iPath Pure Beta Nickel ETN (NYSEArca: NINI).

Below-average rainfall in coffee-growing Vietnam, Indonesia and Central America could lower crop yield expectations. Warm weather could reduce the risk of frost in Brazil, the largest coffee producer in the world, and could diminish crop output as well. The iPath Dow Jones-UBS Coffee Total Return Sub-Index ETN (NYSEArca: JO) and iPath Pure Beta Coffee ETN (NYSEArca: CAFÉ) track coffee prices.

Lastly, wetter conditions in Chile, the world’s largest copper producer, could lead to flooding in copper mines, which would impeded supply. For copper exposure, look to the iPath Dow Jones-UBS Copper Subindex Total Return ETN (NYSEArca: JJC), iPath Pure Beta Copper ETN (NYSEArca: CUPM) and United States Copper Index ETF (NYSEArca: CPER).

For more information on the commodities market, visit our commodity ETFs category.

Max Chen contributed to this article.