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Barge shipping on the Mississippi could face a third straight year of problems because NOAA expects low flows this summer and autumn after an unusually warm, dry winter. The USDA expects US soybean exports to rise 9% year on year, and more than 60% of soybeans move by barge on the waterway.
A forecast export increase combined with possible barge constraints raises the risk of tighter soybean logistics and higher freight costs, which supports soybean and meal prices.
ofimagazine.comApr 11, 2024After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
Not enough comparable past events yet for a historical read.
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.
