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Texas+Water reports that 2022 was the state's 11th warmest, 13th driest and 10th most drought-affected year on record. The article says the next three months are expected to be warmer and drier than normal, and La Niña is expected to fade to neutral by spring.
Continued dryness in Texas and the southern Plains could reduce grazing and pasture conditions, supporting cattle and feed demand. The effect on national feed prices is limited.
texaspluswater.wp.txstate.eduRobert MaceJan 20, 2023After 2,467 past weather events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +1.7%), and +0.6% over 20.
After 1,964 past weather events, Soybeans moved a median +0.1% over 5 sessions (51% higher; middle half -1.7% to +1.8%), and +0.3% over 20.
After 1,773 past weather events, Wheat (SRW) moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +2.1%), and +0.2% over 20.
After 361 past weather events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +1.3%), 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.
