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Drought has reduced Mississippi River barge traffic for a second straight year, with shallower levels forcing weight restrictions and slower movements. Barge grain movements dropped sharply from July 2022 and stayed below average.
The National Corn Growers Association says the result is lower farmgate corn prices and higher shipping costs for overseas buyers.
Barge weight limits raise freight costs and widen the basis at inland origins, which lowers farmgate corn prices while raising delivered costs for export buyers.
ncga.comNational Corn Growers AssociationDec 1, 2023
waterwayscouncil.orgWaterways CouncilDec 1, 2023After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% 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.
