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The USDA Grain Transportation Report for July 4 says flooding from record rainfall closed several Upper and Mid-Mississippi locks, with reopenings expected by July 20. It also adds rail tariff rates to the Mexico border, showing corn and soybean rates up 1-3 percent and some wheat rates down 5-8 percent.
Lock closures delay barge movements and raise freight costs for Midwest grain, while higher corn and soybean rail rates to Mexico add modest cost pressure on exports.
doi.orgJul 3, 2024Not enough comparable past events yet for a historical read.
After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% over 20.
After 206 past bullish logistics events, Soybeans moved a median +0.5% over 5 sessions (56% higher; middle half -1.3% to +2.6%), and +1.4% 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.
