11/07/2022, 12:31 pm EST
The daily southern oscillation index crashed to -3.6 earlier today. The daily -SOI value is the lowest since Aug. 17, 2022, a one-day event. The last very negative SOI regime dates back to June 2020. The -SOI may last a few days due to passage of Madden Julian oscillation episode. Moderate-to-strong La Nina presence may weaken slightly during this transaction.