El Nino May Boost Soil Moisture in May for South American Wheat

After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.

• Jun 1, 2023El Nino may hammer Asian farms with dry weather, but shower American growers-3.6%
• Sep 26, 2023Unfavorable Ocean Combination Including Strong El Nino Dries Out Australia's Wheat Moisture Forecast-5.4%
• Aug 11, 2022Continued La Nina Unfavorable for Wheat Seeding Moisture-1.3%
• Oct 22, 2022Rains threaten South American wheat | The Western Producer-0.6%
• May 3, 2017You Can’t Kill Wheat, But Mother Nature is Trying | Farm Bureau Intel Markets | American Farm Bureau Federation-2.1%

After 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.

• Oct 19, 2021La Niña Is Back—What That Means for North and South American Crops+0.7%
• Jan 28, 2020Mixed Forecast for South America-0.8%
• Aug 30, 2024Limited Rain for Those in Need in South America+4.1%
• May 13, 2021Soil Moisture Running Short in Brazil-7.7%
• Feb 1, 2018La Niña May Stall South America Output+0.6%

After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.

• Oct 19, 2021La Niña Is Back—What That Means for North and South American Crops+2.1%
• Jan 28, 2020Mixed Forecast for South America-2.7%
• Feb 1, 2018La Niña May Stall South America Output-0.7%
• Mar 16, 2021Weather woes persist for South American row crops - Grain Central-2.4%
• Jan 11, 2022The heat is on in South America - Grain Central+2.9%