Loading…
NOAA's May 2022 ENSO update reports that April 2022 sea surface temperatures in the Niño-3.4 region were -1.1 °C, tying 1950 for the strongest negative April anomaly on record. Forecasters put the chance of a third-year La Niña in the coming fall and early winter at 61%.
A persistent La Niña raises the risk of drought in South America and the US Plains, which can tighten corn and soybean supplies and support prices.
climate.govEmily BeckerMay 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.
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.
