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Glacier FarmMedia reports that Western Canada is recovering from drought, but El Niño could bring less snowfall and drier conditions into spring. Forecasters give El Niño about a 70% probability in Canada and note that its effects have often been smaller than expected in recent years.
Drier conditions on the Prairies in 2019 could cut canola and wheat yields and tighten supplies of canola meal and feed grains. The risk is real but uncertain, so the price effect is limited for now.
grainews.caGFM Network NewsNov 5, 2018Not enough comparable past events yet for a historical read.
After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
Not enough comparable past events yet for a historical read.
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.
