# March 2024 ENSO update: award season

> NOAA's March 2024 ENSO update says El Niño is still present in the tropical Pacific but is expected to transition quickly to neutral by April-June. It puts the chance of La Niña by June-August at 62%. Niño-3.4 sea surface temperatures were 1.6 °C above the long-term average in February, clearly off the late-2023 peak.

- Date: 2024-04-01 · published 2024-04-01T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/31122-march-2024-enso-update-award-season
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A likely shift to La Niña raises the risk of a drier US Midwest summer, which could tighten corn and soybean supply expectations and support feed prices later in the year.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2024-06-01 | [May 2024 ENSO update: we’re 10!](https://feedsoft.ai/events/30148-may-2024-enso-update-we-re-10.md) | -1.6% | -6.0% |
| CORN | 2020-08-01 | [July 2020 ENSO update: La Niña Watch!](https://feedsoft.ai/events/52034-july-2020-enso-update-la-nina-watch.md) | -1.4% | +7.2% |
| CORN | 2022-04-01 | [March 2022 La Niña update: three-bean salad](https://feedsoft.ai/events/42193-march-2022-la-nina-update-three-bean-salad.md) | +3.3% | +5.2% |
| CORN | 2023-06-01 | [May 2023 ENSO update: El Niño knocking on the door](https://feedsoft.ai/events/35865-may-2023-enso-update-el-nino-knocking-on-the-door.md) | -2.2% | -3.2% |
| CORN | 2024-11-14 | [November 2024 ENSO update: ask me anything \| NOAA Climate.gov](https://feedsoft.ai/events/27324-november-2024-enso-update-ask-me-anything-noaa-climate-gov.md) | +0.2% | +0.4% |
| SOY | 2024-06-01 | [May 2024 ENSO update: we’re 10!](https://feedsoft.ai/events/30148-may-2024-enso-update-we-re-10.md) | -2.1% | -3.8% |
| SOY | 2020-08-01 | [July 2020 ENSO update: La Niña Watch!](https://feedsoft.ai/events/52034-july-2020-enso-update-la-nina-watch.md) | -3.0% | +5.9% |
| SOY | 2022-04-01 | [March 2022 La Niña update: three-bean salad](https://feedsoft.ai/events/42193-march-2022-la-nina-update-three-bean-salad.md) | +1.7% | +5.6% |

## Sources

- climate.gov: https://www.climate.gov/news-features/blogs/enso/march-2024-enso-update-award-season

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.