A significant retreat of exceptional deficits is forecast November through January, though deficits are forecast for much of Brazil’s northern half and along its southeast coast from São Paulo to Rio de Janeiro. Intense surpluses are forecast for central Colombia and Venezuela’s northeastern coast into Trinidad and Tobago. Moderate surpluses are forecast for northern Peru, northern Bolivia, southern Paraguay, and Buenos Aires Province, Argentina. After February, a transition from deficit to moderate surplus is forecast for northern Amazonian Brazil.