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NOAA's March 2022 Climate.gov update reports La Niña reasserted itself in February with strong ocean-atmosphere coupling, with Niño-3.4 SST near -0.9°C for the month. La Niña is now favored to continue into northern summer 2022, with nearly equal odds of neutral or La Niña afterward.
A persistent La Niña raises the risk of dryness in the US Southern Plains and South America's growing areas, which tends to support grain and oilseed prices through the season.
climate.govMichelle L'HeureuxApr 1, 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.
