Meat Processing Plant Shutters, Wheat Production Outlook, El Niño Predicted

Tyson Foods' closure of a beef processing facility in Illinois, capable of handling 3,000 cattle daily, has disrupted the supply chain. The World Agricultural Outlook Board has reduced the EU's wheat production estimate by 1.8 million tons due to extreme summer heat, impacting the yield and bringing the forecast to 134.2 million tons, down 11 million tons from last year. A potential historic El Niño event in the U.S., which could alter winter weather patterns.