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An opinion piece notes unusually mild February weather across much of the US, with spring arriving two to three weeks early in parts of the Southeast and mid-South. It also says the Climate Prediction Center sees neutral ENSO through May and a roughly 50% chance of La Nina developing in September to November.
Early spring and a possible shift to La Nina later in the year are background factors for US planting and forage supply, with limited immediate price impact.
hayandforage.comMike RankinMar 7, 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.
