
Mississippi River levels at Memphis fell to negative 9.4 feet, below last year's low when barge transport halted. Barge companies are restricting loads by up to 25%, and only about 12% of the soybean harvest was complete.
Load restrictions of up to 25% raise per-bushel freight costs and slow Gulf deliveries during harvest, weighing on interior soybean prices and widening basis.
Not enough comparable past events yet for a historical read.
After 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.
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.
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.