
The Climate Prediction Center forecasts a 59% chance of a weak La Nina in November-January, rising above 70% in December-February. It gives 61% odds of a return to neutral by March-May.
A weak, short La Nina implies limited weather risk to South American crops, so it offers little price support for soybeans, corn or wheat.
After 324 past neutral weather events, SOY moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% over 20.
After 445 past neutral weather events, CORN moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% 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.