Market News & Headlines >> Weather that Will Shape Your Markets
In our free WeatherMarketEdge, released Monday, June 9, Simon Atkins of Advanced Forecasting Corporation highlighted several important weather developments, including:
- So far, there is no El Nino. The Southern Oscillation Index needs to be minus 8; it is barely minus 0.5 right now.
- India is suffering an extreme heat wave, with an average temperature of 104 F and some places reaching 118-120 F in the shade and lows of 90. But the monsoon will begin next week, bringing some respite. The strong and early start may be an indication that the El Nino is fizzling, as it did in 2012—there hasn’t been a year that had a good start to the monsoon and El Nino.
- China’s heatwave is pushing north and drought is settling in in the east; it will then shift northeast. This could be major. Imports could be strong this fall. The average temperature is about 90, which means highs well over 100. This may affect hog production in the area southwest of Beijing where 52% of the world’s hogs are raised and only light rain is expected in the next two weeks.
- In western Russia, crops are developing beautifully. The two-week forecast shows western Russia, Ukraine and Eastern Europe continuing to have excellent conditions. The Volga River area is the trouble spot as it is hot and dry.
- Due to ash from several volcanic eruptions, long-range outlook shows temperatures generally cooler than normal in the Northern Hemisphere and warmer than normal in the Southern Hemisphere. The U.S. could see an earlier-than-usual killing freeze this fall.
For more detail and background regarding these important weather events, view the entire free WeatherMarketEdge. If you didn’t get an email with a link or if you want to subscribe for ongoing weekly and/or monthly updates, call our main office at 800-558-3431.