# Argentina grains ships load less cargo as river levels hit near-record lows

> The Parana River, which carries nearly 80% of Argentina's grain and oilseed exports, is at its second-lowest level for this time of year since 1970, according to Rosario grains exchange data. Ships are loading less cargo as a result.

- Date: 2024-09-19 · published 2024-09-19T12:00:00.000Z
- Category: logistics · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/13899-argentina-grains-ships-load-less-cargo-as-river-levels-hit-near-record-lows
- Commodities: [Barge Freight (St. Louis)](https://feedsoft.ai/c/BARGE.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Shallow water forces smaller loads and slower loading, which raises freight costs and delays Argentine export flows. This tends to lift freight rates and can widen the gap between Argentine and other origins' prices.

## Read by commodity

- SBM: neutral
- BARGE: bullish ▲
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2023-09-29 | [Mississippi River Near Historic Lows, Grain Exports at Risk](https://feedsoft.ai/events/16603-mississippi-river-near-historic-lows-grain-exports-at-risk.md) | -4.6% | +9.0% |
| SBM | 2026-08-05 | [Grain flows again as Argentina reaches deal with striking pilots](https://feedsoft.ai/events/13782-grain-flows-again-as-argentina-reaches-deal-with-striking-pilots.md) | -1.8% | +10.3% |
| SBM | 2022-02-21 | [Argentina Grains Inspectors Start Strike; 'No Impact'](https://feedsoft.ai/events/42712-argentina-grains-inspectors-start-strike-no-impact.md) | +0.4% | +7.9% |
| SBM | 2020-08-28 | [Argentina: Grains Port Workers Delay Strike](https://feedsoft.ai/events/51435-argentina-grains-port-workers-delay-strike.md) | +3.5% | +14.2% |
| SBM | 2021-05-23 | [Stranded grain ships to be towed to decongest port in Argentina - BusinessWorld Online](https://feedsoft.ai/events/47133-stranded-grain-ships-to-be-towed-to-decongest-port-in-argentina-businessworld.md) | -0.7% | -6.8% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/argentina-grains-ships-load-less-cargo-river-levels-hit-near-record-lows-2024-09-19/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.