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ACT Polyols · Market Intelligence North America Crop Brief · May 2026
Climate & Commodities North America Edition

The same storm.
Two very different
harvests across
North America.

The Super El Niño building in the Pacific doesn't play favorites — but it does play differently depending on where you are. For the Corn Belt, it could be a gift. For the Southern rice belt, it could be a serious headache. For ingredient buyers who source from both, the picture is more complicated than it looks.

🌽 Corn Belt — Iowa, Illinois, Indiana Generally Good News All three super El Niño years since 1982 delivered above-average or record corn output. Cooler summers, more moisture — conditions corn loves.
🌾 Southern Rice Belt — Arkansas, Mississippi, Louisiana Watch This Closely El Niño brings wetter, cooler springs to the South — helpful in drought years, but a serious flooding risk that's already hit Arkansas hard in 2025.
3-for-3 US corn delivered strong yields in all three previous super El Niño years: 1982, 1997, 2015
~15B bu Record US corn crop in 2023 — the most recent El Niño year — at 15.3 billion bushels
−10% US rice production decline expected for 2025 after Mississippi Delta flooding and drought
32% of US corn acres were in drought entering 2026 — El Niño's moisture may arrive at the right time

Stand in the middle of an Iowa cornfield in August and the last thing on your mind is the Pacific Ocean. But what's happening three thousand miles away — in a stretch of warm equatorial water — will have already shaped every inch of that crop before you got there.

That's the quiet truth about El Niño in North America. It doesn't arrive as a single story. It arrives as two parallel ones, playing out simultaneously in different parts of the continent. One tends to be good news. The other is more complicated. And the same event drives both.

For food ingredient buyers who source corn-derived maltodextrins, glucose syrups, and starches from the Midwest — and rice-derived ingredients from the Southern states — understanding which story belongs where matters more than any single weather forecast.

What El Niño does in the Corn Belt

"Historical records indicate that, with a few exceptions, El Niño is strongly correlated with positive yields for both corn and soybean crops."

— AgriBank Farm Credit Bank analysis · 2015

The Corn Belt's relationship with El Niño is one of the more reliable patterns in agricultural weather. When the Pacific warms, the jet stream shifts south, pulling more moisture across the central US and moderating the punishing summer heat that is corn's biggest enemy. The growing season tends to run cooler and wetter than average in Iowa, Illinois, Indiana, and Ohio — conditions that suit corn nearly perfectly.

The historical record backs this up with unusual consistency. In 1982 — the first documented super El Niño year — US corn set a production record, yielding 114.8 bushels per acre. In 1997, during another super event, the crop came in at 9.4 billion bushels, third highest on record at the time. In 2015, the Godzilla El Niño year, 13.6 billion bushels were harvested at 168.4 bushels per acre. And in 2023, during the most recent moderate El Niño, the US set an all-time corn production record at 15.3 billion bushels.

Three out of three super El Niño years delivered strong corn harvests. That's not a guarantee — droughts can still develop locally, and timing matters enormously — but the directional signal is clear enough that agricultural analysts at DTN, AgriBank, and USDA consistently flag El Niño as a positive factor for Midwest corn.

1982 Record corn yield — 114.8 bu/acre during super El Niño
2015 13.6B bushels harvested — 2nd highest yield on record
2023 All-time record: 15.3B bushels in an El Niño year

The 2026 growing season is setting up in a way that resembles those analog years. As of spring 2026, planting is tracking at or above the five-year average. Corn is in the ground in key states with reasonable soil moisture. The concern about Midwest drought — which loomed as a major risk entering 2025 — has eased. DTN's agricultural meteorologists identify 2023, 2015, and 2009 as the closest analog years to current conditions, all of which delivered solid corn output.

The risk, as always, is timing. If El Niño locks in too early and generates drought in June before pivoting to moisture in July, the crop could face stress during its critical early-season window. But the broad directional outlook — wetter and cooler than average across the I-states — points toward favorable conditions for the world's largest corn crop.

Historical context — corn
US corn production in key El Niño years vs. non-El Niño reference years (billion bushels)
US corn: 1982 8.4Bbu record, 1997 9.4Bbu, 2012 10.8Bbu drought year, 2015 13.6Bbu, 2020 14.2Bbu, 2022 13.7Bbu, 2023 15.3Bbu record.
El Niño year Non-El Niño year Drought year (La Niña)

The other story: US rice in the South

Arkansas grows more rice than any other US state. The fields around the Mississippi Delta — flat, low-lying, fed by wells and rivers — produce around 40% of the country's rice crop, with Mississippi and Louisiana adding much of the rest. It is beautiful farming country, but it is also some of the most flood-vulnerable land in America.

El Niño's signature in the Southern states is the opposite of the Corn Belt experience. The same jet stream shift that brings cool moisture to Iowa pushes wetter, heavier conditions into the Deep South. In drought years, that's exactly what the region needs. In wet years — which the South has had increasingly often — it can cross into something more damaging.

2025 told that story clearly. Farmers in the Midsouth faced historical flooding in April and May that forced replanting across a significant portion of the Mississippi Delta region. Then the growing season brought extreme heat and prolonged drought as conditions swung the other way. By harvest, US rice production was expected to fall roughly 10% from 2024 levels. The Arkansas rice belt, which had set a record yield of 169.8 bushels per acre in 2024, gave much of it back in a single season.

The Timing Problem

Arkansas rice is planted April through June — the precise window when El Niño's wetter conditions typically arrive in the South. Too much rain at planting means waterlogged fields, delayed germination, and in severe cases, total loss of early-planted acres requiring expensive replanting. The same moisture that looks helpful on a seasonal average can be catastrophic if it arrives in the wrong weeks.

In 2025 — before El Niño had even arrived — spring flooding in the Delta was severe enough to force widespread replanting. With El Niño building toward what could be a super event, the risk of another difficult spring in 2026 is real.

The drought dimension matters too. El Niño's effects in the South aren't uniformly wet — the distribution is uneven, and some areas can swing from spring flooding to summer drought in a single growing season. That's not a new dynamic; it's a recurring feature of El Niño years in the South. But a super event amplifies the swings, making the range of outcomes wider than in moderate El Niño years.

Two crops, one storm — the divergence laid bare

This split is worth sitting with, because it shapes how ingredient buyers should think about the year ahead. The same Pacific warming event that tends to increase the supply of corn-derived ingredients may simultaneously squeeze the supply of US-grown rice derivatives. If you buy both, you could see your cost structure move in opposite directions.

Corn Belt outlook — generally favorable

El Niño typically moderates Corn Belt summers. Cooler temperatures reduce heat stress during pollination. More frequent rains support yield without excessive flooding. The analog years (1982, 1997, 2015, 2023) all delivered strong harvests.

32% of corn acres entered 2026 in drought. El Niño's moisture could arrive at exactly the right time to relieve that stress and set up a strong growing season.

Southern Rice Belt — watch the spring

El Niño brings wetter, cooler spring conditions to the Deep South. Helpful in drought years. Problematic when it tips into flooding — which it did in 2025 even before El Niño had fully arrived.

A super El Niño amplifies both the wet and dry swings across the season. With 2025 stocks already reduced, a difficult 2026 spring planting season would compound an existing supply deficit.

What 2026 might actually look like

History points in a direction, but it doesn't determine the destination. Here is an honest read of the four most plausible ways this season plays out across both crops.

Corn Belt Strong season Most probable
Analog years (2023, 2015, 2009) all delivered at or above trend yields. Cooler, wetter summer conditions favor the I-states. With current drought conditions, El Niño moisture could be net positive. Watch for localized drought if El Niño locks in early before moisture arrives.
Southern Rice Spring flooding risk Elevated
El Niño's wet signature in the South peaks during April–June — exactly when rice is planted. Dry conditions in early 2026 (Arkansas is already reporting severe planting-season dryness) could flip to heavy rains quickly, making replanting necessary and cutting the planted area.
Corn Belt Timing misfire Possible
El Niño builds too fast and creates dry June conditions before moisture arrives in July. Stress during pollination reduces yield. Still likely above the worst years, but below the strong-El-Niño average. The southeast Corn Belt and Ohio Valley are most exposed.
Southern Rice Drought flip mid-season Possible
The 2025 playbook: heavy spring rains force replanting, then summer heat and drought stress the late-planted crop. Output falls 15–20% below normal. US rice stocks — already depleted from 2025 — tighten further through 2026.
Scenario comparison
US corn vs. Southern rice — relative supply outlook under 2026 El Niño scenarios
Corn: strong most scenarios. Rice: vulnerable to flooding under moderate to super scenarios.
Corn supply outlook (vs. trend) Southern rice supply outlook (vs. trend)

The fertilizer wrinkle nobody is talking about

There is one complicating factor for the corn picture that goes beyond weather. With urea prices rising — driven in part by disruption to Middle East fertilizer supply routes — many US corn growers are considering applying less fertilizer in 2026 to manage their input costs. Analysts at Kpler estimate this could push the national corn yield below trend even if the weather cooperates.

This matters because the El Niño tailwind for corn is not the only variable in play. A strong yield forecast based on weather alone could be partially offset by below-trend fertilizer application rates. The net result may still be a good crop — but perhaps not the record-setter that pure weather analogs would suggest.

For buyers of corn-derived ingredients, this adds a layer of uncertainty to what otherwise looks like a favorable supply year. The direction is likely still positive for corn. The magnitude is less certain than the historical analog would imply.

What both crops share: the 2027 hangover

Whether the 2026 El Niño is moderate or super, it sets up the following year as a wild card. Super El Niño events have historically been followed by La Niña conditions within 12 to 18 months. In North America, La Niña tends to bring drier conditions to the southern US — bad for the Southern rice belt — and can introduce drought risk to the central Corn Belt that El Niño had been keeping at bay.

The 2012 drought — the worst US corn drought in a generation — came in a La Niña year. Corn yields fell to 123.4 bushels per acre, production dropped 13% year-on-year, and corn prices spiked. Buyers who had assumed El Niño's positive momentum would carry forward were caught off guard.

The same dynamic applies to rice. A super El Niño in 2026 followed by La Niña in 2027 could mean two difficult years in a row for Southern rice growers — the first from flooding risk, the second from drought. For an industry that was already working through depleted stocks after 2025, that sequence would create a meaningful supply tightness for US-origin rice ingredients heading into 2028.

Not one story — two

The Super El Niño building in the Pacific will shape the 2026 North American harvest in ways that don't fit a single narrative. The Corn Belt is looking at one of its better setups in years — if the timing cooperates. The Southern rice belt is looking at real spring risk, compounded by two years of disrupted stocks.

For buyers sourcing corn-derived ingredients, the directional news is encouraging — but fertilizer economics add a caveat. For buyers sourcing US-grown rice derivatives, the spring planting window in Arkansas and the Delta deserves close attention. And for anyone relying on either crop, 2027 — the likely La Niña rebound year — sits on the horizon as a risk neither crop has fully priced in yet.