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The US Coast Guard imposed draft and tow-width restrictions on the lower Mississippi River as water levels fell, limiting southbound barges to 11 to 11.5ft drafts and northbound barges to 10ft. Several gauges, including Tunica and Memphis, were below their low-water thresholds.
Draft limits force barge operators to use more fleets and trips to move the same volume, which raises southbound freight rates during harvest and can slow grain loadings at New Orleans.
argusmedia.comMeghan YoyotteMar 25, 2024argusmedia.comMeghan YoyotteMar 25, 2024After 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.
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.
