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Glacier FarmMedia reports that major forecasters put La Niña odds at slightly above 50% for the fall and winter, and that a La Niña would bring colder, snowier Prairie winters. Forecasters including NOAA and Australia's Bureau of Meteorology put the chance at 50-55%.
Colder, snowier Prairie winters tend to improve soil moisture for the next crop, which supports the Canadian canola and feed grain outlook. The market impact is limited given the modest probability.
grainews.caGFM Network NewsOct 5, 2017Not enough comparable past events yet for a historical read.
After 224 past neutral weather events, WHEAT moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% 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.
