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Grain Price News reports the WMO warning that the world faces its first triple-dip La Niña of the 21st century. The WMO rates the chance of persistence at 70 per cent for September to November and 55 per cent for December to February.
Bureau of Meteorology and NOAA assessments broadly agree.
Expectations of extended La Niña dryness in key South American and Plains growing areas can lift grain and oilseed futures on supply-risk premiums. Market reaction depends on how the crop outcome develops.
grainpricenews.comMike VerdinAug 31, 2022After 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 1,465 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 1,072 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.
