Loading…
DTN meteorologist John Baranick says the La Niña forecast has been in place since the 2023 El Niño, which peaked at 2.0°C. Past strong El Niño events were each followed by La Niña the next winter, and often by two straight La Niña winters.
The article notes that La Niña is taking longer to develop than expected, which may be favorable for US agriculture.
A slower move to La Niña lowers the odds of a hot, dry summer in the US Corn Belt during key crop stages. That eases weather-driven price support for corn and soybeans.
dtnpf.comJohn BaranickJun 13, 2024After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% over 20.
After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% 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.
