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About 200 boats and 3,000 barges on the lower Mississippi were delayed in mid-October, according to the US Coast Guard. Tow sizes were restricted to 25 barges at a 9-foot depth, and the cost to ship a ton of corn or soybeans rose from $29 in early September to over $105 by mid-October.
Sharply higher freight costs lower the net price farmers receive for grain and raise delivered costs for export buyers. Barge capacity constraints are likely to persist until river levels recover.
navprod.dailyherald.comDANIEL GRANT FarmWeekNov 4, 2022Not enough comparable past events yet for a historical read.
After 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.
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.
