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NOAA's Climate Prediction Center forecasts warmer-than-average temperatures for much of the US this winter, with the strongest odds in Alaska and Hawaii. Wetter-than-average conditions are favored across the northern tier from December through February, while drier conditions are likelier in parts of the South and California.
A milder US winter can reduce heating demand, which is mildly bearish for natural gas and has little direct effect on feed grain prices.
growingproduce.comPaul RusnakOct 31, 2019After 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.
