Loading…
Low rainfall has reduced barge drafts and tow sizes on the Mississippi River System, and low water caused several barge tow groundings near Hickman, Kentucky. Dredging is ongoing, and transit delays of 2 to 3 days are expected.
NOAA forecasts show no relief in the next two weeks.
Shallower drafts raise per-bushel barge freight and can force terminals in low-water areas to limit grain intake, which pressures farm-gate bids for corn and soybeans. Higher transport costs widen the gap between Gulf and interior prices.
doi.orgOct 24, 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.
