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NOAA Climate.gov reports that the US is in the second winter of a double-dip La Niña, with drought expanding across several regions, especially the south. A study led by Yuko Okumura finds US drought and North Pacific circulation anomalies typically strengthen in the second winter.
Expanding US drought in the southern Plains threatens winter wheat and pasture, which tightens HRW wheat and feed grain supplies.
climate.govNat JohnsonFeb 1, 2018After 322 past bullish weather events, Wheat (HRW) moved a median -0.1% over 5 sessions (49% higher; middle half -2.5% to +3.2%), and +1.0% over 20.
After 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.
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.
