Loading…
The NOAA Climate Prediction Center's June ENSO Diagnostic Discussion reports ENSO-neutral conditions, with a 78% chance of neutral in June-August and 50% in September-November. La Niña chances rise to near 50% by late fall and winter.
Growing odds of a second-year La Niña point to a higher risk of drought for South American and US crops in 2021/22, which tends to support grain and oilseed prices.
coyotegulch.blogCoyote GulchJun 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.
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.
