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Dry conditions cut barge drafts on the Mississippi River to 11.5 feet between St. Louis and Cairo, Illinois. That reduces tow sizes by nine to 14 barges, or 25 to 40 percent of traffic, adding one to two days of delays.
Higher barge costs and fewer shipments on the Mississippi raise delivered costs for Gulf-bound grain and can widen Gulf basis discounts.
rrfn.comDon WickDec 6, 2024Not enough comparable past events yet for a historical read.
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.
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.
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.
