Citi warns that food supply risks are underestimated: El Niño combined with high energy costs raises upward risks for grains and oilseeds

```htmlAccording to the Golden Ten Data APP, Citi recently released a commodities research report pointing out that the global CBOT grain and oilseed markets are currently in a period of concentrated multiple risks, with geopolitical conflicts, high energy costs, rigid demand for biofuels, and intensified El Niño climate threats jointly creating a supportive environment for agricultural products. Although crop supply has improved in some major producing areas and market sentiment has cooled somewhat, the fragility of global food supply and demand remains underestimated, and price trends for different varieties are showing a divergence.```