The US Climate Prediction Center has forecasted a 62% chance of an El Niño climate event occurring between May and July, with an 80% chance from July to September, marking a significant shift from the recent three years of La Niña. El Niño, known for bringing heavier rainfall in some areas, could potentially improve food production in regions that have suffered drought due to La Niña, such as parts of the US and South America. However, it could also lead to challenges in palm oil production in Southeast Asia and cocoa production in West Africa due to drier conditions. This could have significant impacts on global agricultural production, including the potential for reduced palm oil production in 2024 due to the lag in production and increased rainfall in Australia, which could affect wheat planting.