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Lakeview Grains reports that La Niña is expected to persist through late winter and favors above-normal temperatures across much of the continental US. Iowa State climatologist Elwynn Taylor says there is a 70% chance of a below-trendline yield, since a 5% drier-than-normal year would create a problem for row crops.
A high chance of below-trend US yields would tighten corn, soybean and wheat balance sheets, supporting feed grain prices.
lakeviewgrainsllc.comJan 17, 2018After 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.
After 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.
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.
