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Low Mississippi water is reducing barge loads as harvested corn and soybeans head downriver, following a similar low-water year in 2022. American Commercial Barge Line reports loading drafts down 24% from normal and transit delays of two to three days.
Higher barge rates and transit delays raise farmer transport costs and can widen interior basis, pressuring local cash prices for corn and soybeans.
feedandgrain.comFeed, Grain StaffSep 21, 2023Not enough comparable past events yet for a historical read.
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.
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.
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.
