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The US Climate Prediction Center says La Niña conditions have a 67% chance of persisting from March to May before transitioning to ENSO-neutral. Japan's weather bureau also gave an 80% chance La Niña prevails through the northern winter.
The outlook points to drier conditions across the southern US tier and colder northern Plains.
Persistent La Niña raises the risk of dryness in South America and the southern US Plains, supporting corn, soybean and wheat prices. Buyers should expect continued weather premium in feed grains.
agweb.comJan 14, 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 322 past bullish weather events, Wheat (HRW) moved a median -0.1% over 5 sessions (49% higher; middle half -2.5% to +3.2%), and +1.0% 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.
