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NASA reports that La Niña has returned for a second straight winter, with the cooling of the eastern tropical Pacific expected to persist into spring 2022 in the Northern Hemisphere. The pattern typically brings drier conditions to Brazil, Argentina and parts of South America, and drier, warmer conditions to the US South.
A La Niña-driven dry spell in South America threatens soybean and corn output from the region, which tightens export supplies and supports soymeal and corn prices.
science.nasa.govNASA Earth ObservatoryDec 13, 2021After 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.
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.
