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NOAA's Climate Prediction Center says El Niño has ended and a neutral phase has begun. La Niña is expected to build through the summer and be firmly in control by September, during peak hurricane season.
The shift toward La Niña changes seasonal weather risk for the Americas and Asia-Pacific, adding to uncertainty for crop planning and feed grain supply. Its price impact depends on where it turns dry.
cnn.comMary GilbertJun 13, 2024After 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.
