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MarKit County Grain says La Niña is contributing to below-normal US corn, soybean and winter wheat yields in 2022. It notes NOAA expects La Niña to persist until February-April 2023, which would be only the third triple-dip since 1950, and warns of possible damage to South American soybean and feed grain crops.
Lower US yields and risk to South American crops tighten corn, soybean and wheat supplies, supporting feed grain and meal prices into the new crop year.
markitcountygrain.comSep 12, 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.
