Loading…
NOAA's November update says La Niña is very likely to persist through the December-February winter, with a 76% chance. A transition to ENSO-neutral is expected in February-April, with a 57% chance.
A lingering La Niña raises the risk of dry conditions in South America and the US southern Plains, which can cut soybean, corn and wheat supplies and support feed grain prices.
climate.govEmily BeckerNov 10, 2022After 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.
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.
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.
