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The Mississippi River at Memphis was at -9.81 feet on October 27, and St. Louis and Cairo were also below key thresholds. The USDA warned that forecast precipitation will not stabilize water levels, so more draft and tow-size restrictions are expected.
Soy Transportation Coalition officials say each foot of draft reduction cuts a barge's load by about 7,000 bushels of soybeans.
Continued draft cuts raise barge freight costs and limit soybean movement to export terminals, which pressures interior soybean bids. Persistent low water extends the freight premium into peak export season.
dtnpf.comMary KennedyOct 28, 2024Not enough comparable past events yet for a historical read.
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.
