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Indiana Prairie Farmer reports that a weak El Niño is persisting and explains how the El Niño-La Niña cycle links to weather patterns that can cause drought or wet years. The article recalls the 1983 midsummer Midwest drought linked to the cycle.
Weak El Niño conditions add uncertainty to the US summer growing season after a wet spring, which can support corn and soybean prices if heat or drought develops.
farmprogress.comTom J Bechman 1Jun 15, 2019After 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.
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.
