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Middle Mississippi river levels were about 8 feet below the post-1967 average in late August, with gauges forecast to hit record daily lows without rain. Low-water records were broken five times each in June and July, and the Corps was dredging channels.
Persistent low water restricts barge loadings on a key grain corridor during harvest, raising transport costs and weighing on Midwest cash grain prices relative to futures.
waterwaysjournal.netDavid MurrayAug 25, 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.
Middle Mississippi levels forecast to hit record lows and repeated low-water records with dredging signal tightening barge supply on the St. Louis stretch.
