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NOAA Climate.gov's March 2019 update says the weak El Niño persisted into March, with forecasters giving it an 80% chance to last through spring and 60% through summer. Atmospheric responses such as altered cloud patterns over the Pacific have now appeared alongside the warm ocean.
Persistent El Niño raises the odds of favorable US summer growing conditions for corn and soybeans, while adding risk of drier conditions for Australian and Southeast Asian crops.
climate.govEmily BeckerApr 1, 2019After 357 past bearish weather events, CORN moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% over 20.
After 363 past bearish weather events, SOY moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% over 20.
After 1,072 past bullish weather events, WHEAT 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.
