The USDA Grain Transportation Report for the week ending August 21 showed unshipped corn and soybean balances down 24% week over week and wheat balances down 6%. Rail grain carloads rose 13% year over year, while secondary railcar bids fell sharply from a year earlier.
Lower Mississippi River levels were also prompting draft and tow restrictions.
Falling river levels and tight barge capacity raise interior freight costs and can widen basis discounts for Midwest farmers. Weaker rail bids signal slack demand for grain movement.
Not enough comparable past events yet for a historical read.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% 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.