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NOAA's October 2022 update says La Niña remains in place in the tropical Pacific and is the third consecutive La Niña winter. A 75% chance of La Niña persists for December–February, with forecasters favoring a transition to neutral in February–April 2023.
A third straight La Niña raises the risk of dryness across Argentina, southern Brazil and the US southern Plains, which can tighten South American corn and soybean supplies and support prices into 2023.
climate.govEmily BeckerOct 13, 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.
