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Low water levels at Gatun Lake are restricting Panama Canal transits, and the Mississippi River is also in drought with barges at risk of grounding. US wheat exports have reached a 20-year low, and the Army Corps is dredging the river bottom.
Reduced Mississippi barge capacity and weak wheat export flows push US grain freight costs higher and pressure US wheat export prices downward.
clnusa.comadminJan 26, 2024After 137 past bearish logistics events, Wheat (SRW) moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.0%), and +0.0% over 20.
After 359 past bearish logistics events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% over 20.
Not enough comparable past events yet for a historical read.
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.
