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Low water on the Mississippi River slowed barge traffic, and grain is backing up at local elevators. The Coast Guard reopened closed stretches near Memphis and Stack Island after dredging, which had halted about 100 towboats and 2,000 barges.
Arkansas soybean harvest is behind last year and the average, and elevators are turning farmers away.
Shipping constraints raise barge freight and delay grain movement, which widens local cash basis and pressures farm-gate soybean prices. Storage limits can force sales at lower prices during harvest.
arkansasonline.comMary Hightower Special to The CommercialOct 14, 2022Not enough comparable past events yet for a historical read.
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.
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.
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.
