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Low water is persisting on the Middle Mississippi and Illinois rivers for a third straight year during harvest. The Coast Guard has issued navigation warnings for shoaling near La Crosse and imposed one-way traffic on a stretch of the Upper Mississippi.
Drought has worsened across the Midwest and Illinois River Basin.
Restricted barge movement raises freight costs and limits how much grain can reach Gulf export positions, which weighs on interior cash bids for corn and soybeans. Relief depends on a possible La Niña pattern that forecasters see as only moderately likely.
waterwaysjournal.netDavid Murray, Shelley ByrneOct 25, 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.
