Loading…
The WMO says there is a high probability the ongoing La Niña will last until at least August and possibly into northern hemisphere autumn and winter. Some long-range forecasts suggest it could persist into 2023, which would make it a rare triple-dip event.
The event has already worsened drought and flooding in several regions.
A prolonged La Niña increases the chance of weather-related crop losses in South America, the US and East Africa. That supports grain and oilseed prices and keeps feed input costs firm.
wmo.intJun 8, 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 1,072 past bullish weather events, WHEAT 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.
