After a handful of winter storms during December, the latest NOAA two-week forecast is showing a warming trend across most of the lower 48 states as we begin 2021 at least through the first half of January. This continues a trend of mostly near-normal to above-average temps for much of the U.S. during most of December.
The warmest deviations are expected to be centered from the Great Lakes through the northeastern region coming on the heels of a fast-moving rain event for a wet New Year’s Eve.
During the second week of January, temps are expected to trend 10 degrees above average across a wide area of Chicago to Boston. The presence of La Niña in the central Pacific and a flatter-than-usual jet stream across the states are being cited as primary drivers for these conditions and lack of polar vortex threats this year.
The seasonal warm-up is expected to see a decline in withdrawal of gas for heating requirements that normally peaks this time of the year. This should keep a lid on natural gas prices that have seen a big decline since the highs of early November amid the recovery in crude oil prices and expectations of higher rates of extraction.
Posted by: Information Services Our Information Services team assists our clients with understanding commodity and ingredient market dynamics. Using our extensive database of intelligence, we also produce regular commodity and commercial market publications covering supply and demand fundamentals, news alerts on events that shape the markets, and resource guides to give you a complete picture of the industries we monitor.