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NOAA Climate.gov guest post by Weston Anderson argues that climate scientists have underused existing knowledge of ENSO to monitor and predict global crop yield surpluses and deficits. The post follows NOAA's La Niña Watch issued a few weeks earlier for a possible fall 2021 La Niña persisting into winter 2021-22.
A possible La Niña through Northern Hemisphere winter 2021-22 raises the risk of yield shortfalls in several key exporting regions, which could support grain and oilseed prices if the signal is confirmed. The article itself is a general analysis with no immediate supply shock.
climate.govWeston AndersonJul 22, 2021After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% over 20.
After 324 past neutral weather events, Soybeans moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% over 20.
After 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% 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.
