Loading…
The IRI June 2021 Quick Look reports that east-central Pacific sea surface temperatures in mid-June were near average, consistent with ENSO-neutral conditions. Most model forecasts keep ENSO-neutral through at least August-October, with more uncertainty later in the year.
Neutral ENSO conditions imply no strong El Niño or La Niña weather signal for major grain and oilseed regions in the near term, so the outlook offers limited direct price pressure.
iri.columbia.eduJun 18, 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.
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.
