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A KXAN Austin article relays the IRI analysis that east-central Pacific sea surface temperatures were near borderline weak El Niño levels in mid-January and are likely to return to neutral by spring. It explains ENSO phases and their typical effects on winter weather in Central Texas.
Expected return to neutral ENSO conditions limits weather-driven supply risk, so the story has no meaningful effect on feed commodity prices.
digital-stage.kxan.comKristen CurrieJan 24, 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, SOY 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 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, PALMOIL 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.
