LaNiña Could Spark Fire in Already Heated Markets by Bryce Knorr 2/21/22
North America Drought? Here are summer weather rally price targets for corn, SBs.
Worries about war, tight supplies and high fertilizer prices provide plenty to ponder when figuring corn and soybean marketing plans this spring. But even more grist for the grain market rumor mill emerged this month. Though the news was forced off the front pages by world events, government forecasters predicted La Niña cooling of the equatorial Pacific will last into the northern hemisphere summer, one of the first indications the growing season could generate fireworks over weather concerns. While La Niña is associated with some of the big-time droughts in the U.S., there are no signs of that kind of disaster — yet. Indeed, the official National Weather Service analysis only put La Niña odds at 53% for June through Aug. But that was up from barely 20% as recently as Dec, a sign the current La Niña, which started in July-Sept 2020, isn’t ready to roll over.
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