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NOAA's Climate Prediction Center says a La Niña pattern has developed and has a 75% chance of persisting from December 2020 through February 2021. The advisory notes typical winter impacts, including a wetter north, drier south, and drought concern in the Southwest.
A likely La Niña winter raises the risk of dryness in the southern US and Argentina, and of a weaker South American crop, which could support soybean and corn prices later in the season.
noaa.govSep 10, 2020After 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 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.
