Australia sees chance of El Nino at 70 percent

SYDNEY (Reuters) - The chance of an El Nino weather event developing this year remains at least 70 percent, the Australian Bureau of Meteorology (BOM) said on Tuesday. The bureau, which has had this forecast since April, said half of the climate models monitored by the bureau indicate an El Nino could be established by August. El Nino - a warming of sea temperatures in the Pacific - affects wind patterns and can trigger both floods and drought in different parts of the globe, hitting crops and food supply. (Reporting by Colin Packham; Editing by Ed Davies)