Loading…
The Lower Mississippi River at Memphis is falling again after a brief rise from Hurricane Helene, stalling barges during record corn and soybean harvests. Barge drafts and tow sizes have been cut.
Ceres Consulting reports more draft cuts are likely if dry weather continues.
Lower drafts reduce barge loads, which raises freight per ton and can cause river terminals to limit grain intake. Those costs tend to lower farm-gate bids for corn and soybeans during peak harvest selling.
dtnpf.comMary KennedyOct 16, 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.
