Grain-related concept stocks rallied sharply in the afternoon session, with Gansu Dunhuang Seed Group Co.,Ltd. (ASX: 600354) hitting the daily limit up, while Jinjian Cereals Industry and Wanxiang Doneed had earlier sealed their boards, Qiule Seed Industry surged over 10%, and Shennong Seed Industry and Kangnong Seed Industry followed with gains.

On the news front, according to the World Meteorological Organization's October 8 release, sea surface temperatures in the central and eastern tropical Pacific are expected to rise to record levels from October to December 2026, with El Nino projected to peak in December.

Galaxy Securities believes that El Nino typically causes reduced production of agricultural products such as sugarcane, palm oil, rubber, and wheat. For China, precipitation patterns tend to show a "southern floods, northern drought" configuration.