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A WeatherWorks long-range column dated April 2, 2020 explains how El Niño and La Niña form and what each tends to do to summer weather. It says El Niño tilts the odds toward cooler summer weather across the US, while La Niña tilts them toward warmer conditions.
Summer temperature tilts from ENSO are a weak, long-range signal, so this commentary is unlikely to move corn or soybean prices on its own.
weatherworksinc.comApr 2, 2020After 2,467 past weather events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +1.7%), and +0.6% over 20.
After 1,964 past weather events, Soybeans moved a median +0.1% over 5 sessions (51% higher; middle half -1.7% to +1.8%), and +0.3% over 20.
After 1,773 past weather events, Wheat (SRW) moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +2.1%), and +0.2% over 20.
After 361 past weather events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +1.3%), and -0.2% 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.
