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The Mississippi River at St. Louis stood 1.13 feet on Aug. 22, 46% below its three-year average and 24% below last year.
American Farm Bureau economist Daniel Munch warned that drought will complicate grain barge movement during peak harvest shipping.
Draft restrictions and smaller tows require more barges to move the same volume, tightening barge supply and raising freight costs that weigh on interior grain basis and export competitiveness.
waterwayscouncil.orgWaterways CouncilAug 30, 2023
michiganfarmnews.comDennis Rudat, Farm News MediaAug 30, 2023After 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.
Not enough comparable past events yet for a historical read.
After 11 past bearish logistics events, Wheat (HRW) moved a median -0.3% over 5 sessions (45% higher; middle half -2.8% to +0.9%), and +0.4% 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.
