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Cargill terminals at Hickman, KY and Keithsburg, IL stopped taking corn and soybeans for the last week of October because low Mississippi River levels had filled their storage. Industry groups warned that the inland waterway system lacks capacity to move the harvest.
Halted elevator intake piles up grain at farms and reduces local demand, pressuring cash bids for corn and soybeans while raising barge and freight costs.
wlj.netChris Clayton, DTN ag policy editorNov 4, 2022After 359 past bearish logistics events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% over 20.
After 297 past bearish logistics events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.5% to +1.8%), and +0.7% over 20.
Not enough comparable past events yet for a historical read.
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.
