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UNL agricultural climatologist Al Dutcher says the Southeast US drought may persist through winter if La Niña continues. He warns the drought could expand into the Eastern Corn Belt, where a wet spring could be followed by a dry summer.
A persistent La Niña could also dry the Western Corn Belt.
A possible drought spreading into the Corn Belt would be a major upside risk for corn and soybean prices, though the outcome remains uncertain and the risk is for next season.
brownfieldagnews.comDec 2, 2016After 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 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% 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.
