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A Baking Business column says some computer models now show El Niño returning later in 2017, which could bring drier weather to Southern Asia and raise U.S. Midwest dryness concerns in summer. It also notes that recent rains eased dryness in the US Southeast and Plains and that grain futures have been subdued.
Early signs of El Niño could bring dryness to Asian crops and some speculation about the US Midwest in summer, which can support grain prices, but the signal is still tentative.
bakingbusiness.comDrew LernerFeb 14, 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.
