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Climate models suggest El Niño could return by late 2023 after three years of La Niña, bringing hotter temperatures, drought and wildfire risk. The article cites a 62% chance of El Niño for May–July and links the pattern to possible record global temperatures.
Expectations of hotter, drier conditions in key growing regions could raise weather risk premiums for US and global grain markets later in the season.
feedandgrain.comLisa CleaverApr 20, 2023After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% 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.
