# La Niña: Calm Before the Storm in Ag Markets?

> CME analysis notes that corn, soybean and wheat implied volatility is exceptionally low even though a La Niña has set in. Historically, grain volatility has run about 1.3 to 1.5 times normal during past La Niña episodes.

- Date: 2018-02-14 · published 2018-02-14T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/66418-la-nina-calm-before-the-storm-in-ag-markets
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Low options volatility suggests the market is not pricing in weather risk, so a shift in La Niña strength could produce sharp price moves in grains and soymeal.

## Read by commodity

- SOY: neutral
- CORN: neutral
- WHEAT: neutral

## Sources

- cmegroup.com: https://www.cmegroup.com/education/featured-reports/la-nina-calm-before-the-storm-in-ag-markets

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.