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Flooding on the Mississippi, Illinois and Ohio rivers prompted the Coast Guard to warn that high water may close the river to barge traffic. Midwest dealers reported replanting may be needed in ponded fields, and corn and soybean planting progressed despite wet conditions.
Higher futures prompted some farmer selling of old-crop corn.
Barge disruption on the Mississippi slows grain movement and raises freight costs, widening basis in river-dependent regions. Replanting risk adds to supply uncertainty for corn and soybeans.
farmprogress.comBob Burgdorfer Senior Editor, Farm FuturesMay 2, 2017Not enough comparable past events yet for a historical read.
After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% over 20.
After 206 past bullish logistics events, Soybeans moved a median +0.5% over 5 sessions (56% higher; middle half -1.3% to +2.6%), and +1.4% 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.
