Corteva's winter outlook calls for a drier, warmer winter across the Midwest as a record-strength El Niño develops. Sea-surface temperatures may reach about 3.5°C above normal, with the northern US forecast to be unusually warm from December to March.
A warm, dry winter in the Corn Belt raises concern about soil moisture going into spring planting, which can support corn and soybean prices, though the effect is still a forecast.
After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.