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NOAA warned that low Mississippi River flows could return this summer and fall because of below-average snowpack and precipitation across the Northern Plains and Midwest. This would mark a third consecutive year of shipping bottlenecks.
A repeat of low water would raise barge costs and limit soybean and crude shipments on the river, pressuring farm-gate and basis prices for the affected export flows.
freightwaves.comMichael RudolphMar 29, 2024Not enough comparable past events yet for a historical read.
After 363 past bearish weather events, SOY moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% 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.
