# La Niña in 2024 could drive grain prices: Grain market daily | AHDB

> AHDB reports UK feed wheat and Paris rapeseed futures slipped while Chicago was supported ahead of the WASDE. It says most 2023/24 grain supply is already accounted for, and Brazil's second corn crop planting is running ahead of last year.

- Date: 2024-02-08 · published 2024-02-08T12:00:00.000Z
- Category: weather · region Global · magnitude low
- Page: https://feedsoft.ai/events/31588-la-nina-in-2024-could-drive-grain-prices-grain-market-daily-ahdb
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Nearby prices are unlikely to rise much unless Brazil's second corn crop comes in smaller than forecast, while a La Niña-driven drought in 2024 could support later-dated contracts. Large Russian supplies continue to weigh on wheat.

## Read by commodity

- CORN: neutral
- WHEAT: bearish ▼
- CANMEAL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-12-06 | [Competitive Black Sea wheat pressuring prices, explained: Grain market daily \| AHDB](https://feedsoft.ai/events/38266-competitive-black-sea-wheat-pressuring-prices-explained-grain-market-daily-ahdb.md) | +9.9% | +9.2% |
| WHEAT | 2020-07-01 | [What do bumper Oz crops mean for your price? Grain Market Daily \| AHDB](https://feedsoft.ai/events/52066-what-do-bumper-oz-crops-mean-for-your-price-grain-market-daily-ahdb.md) | -6.3% | -5.0% |
| WHEAT | 2019-05-06 | [Daily Market Wire 6 May 2019 - Grain Central](https://feedsoft.ai/events/7491-daily-market-wire-6-may-2019-grain-central.md) | -5.4% | -9.6% |
| WHEAT | 2017-03-21 | [Daily market wire 22 March 2017 - Grain Central](https://feedsoft.ai/events/10723-daily-market-wire-22-march-2017-grain-central.md) | +1.9% | +1.9% |
| WHEAT | 2020-11-24 | [Improved situation for EU winter cereal crops: Grain market daily \| AHDB](https://feedsoft.ai/events/50097-improved-situation-for-eu-winter-cereal-crops-grain-market-daily-ahdb.md) | -1.0% | +8.3% |
| CORN | 2021-01-21 | [Analyst Insight: The Brazilian Safrinha crop could drive global grain markets \| AHDB](https://feedsoft.ai/events/48974-analyst-insight-the-brazilian-safrinha-crop-could-drive-global-grain-markets.md) | +3.8% | +2.7% |
| CORN | 2023-06-01 | [Feed weekly outlook: Weather market will determine grain prices - AgCanada](https://feedsoft.ai/events/35565-feed-weekly-outlook-weather-market-will-determine-grain-prices-agcanada.md) | -2.2% | -3.2% |
| CORN | 2024-04-15 | [Weather a driver for the grain markets - Brownfield Ag News](https://feedsoft.ai/events/13196-weather-a-driver-for-the-grain-markets-brownfield-ag-news.md) | -0.2% | +2.0% |

## Sources

- ahdb.org.uk: https://ahdb.org.uk/news/la-nina-in-2024-could-drive-grain-prices-grain-market-daily

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