A "Super El Niño" is expected this year, which Bank of America strategists warn will further tighten global commodities markets already strained by geopolitical conflicts. The climate pattern is forecast to bring severe weather, potentially reducing Australia's wheat production by 20-60% for the 2026-2027 season and Brazil's corn crop by 10%. Sugar output could fall by 5% year-on-year, and coffee production in Vietnam and Indonesia may decrease by 5-15%.