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The WMO said there is a 60 percent chance of a weak La Niña developing between September and November 2020. It also said 2020 remains on track to be one of the warmest years on record.
A weak La Niña raises the risk of drier conditions in South America and parts of the US and Australia, which can cut crop yields and support grain and oilseed prices.
wmo.intAug 27, 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 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.
