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NOAA-funded studies from the University of Texas at Austin predict that the current La Niña will likely last into a second year. The research finds La Niña's effect on southern US drought strengthens in the second year of a two-year event.
The work is aimed at forecasting drought impacts years ahead.
Better drought forecasts help markets judge the risk to US southern crops and winter grazing over the coming years. The study itself is a research finding and does not change current supply.
cpo.noaa.govKristina KiestNov 17, 2017After 2,467 past weather events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +1.7%), and +0.6% over 20.
After 1,964 past weather events, Soybeans moved a median +0.1% over 5 sessions (51% higher; middle half -1.7% to +1.8%), and +0.3% over 20.
After 1,773 past weather events, Wheat (SRW) moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +2.1%), and +0.2% over 20.
After 361 past weather events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +1.3%), and -0.2% 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.
