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NOAA officially declared El Niño on Thursday and says the climate pattern has a 63% chance of reaching “very strong” status by fall, potentially shaping U.S. weather through harvest and winter.
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The U.S. is now below 75% or more abnormally dry for the first time since February
Corn, soybeans and wheat are consolidating in recent ranges, not far off for-the-move lows.
Grain bulls working to stabilize prices
Uncooked ground beef and steaks saw price drops last month, but inflation remains a problem for the White House and the Fed.
Corn bulls need a close above $4.25 to negate a potential bear-flag on the daily bar chart.