The shift from the “cool” La Nina oceanic and atmospheric pattern to the “warm” El Nino variety could have a major impact on key agricultural commodities, most notably cocoa. El Nino is highly correlated with drought conditions in West Africa, where 70% of global cocoa supply is grown. Both La Nina and El Nino can bring heavy rainfall and intense storms to some parts of the globe and drought and famine to others, as Shawn Hackett, president of Hackett Financial Advisors, notes in an interview with Maggie Lake. Hackett describes the impact of these phenomena on the global production of cocoa, sugar, and rice, among other agricultural commodities, and how prices will react in the 2022-23 cycle. Hacket notes that the Walker Cycle’s impact on ocean temperatures near the tropics could exacerbate drought conditions typically associated with El Nino in West Africa. See Hackett's slides here: https://rvtv.io/3nEs3Xo