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American Commercial Barge Line cut draft limits by up to 20% and reduced tow sizes on the Lower Mississippi as river levels fell, with delays of up to 48 hours. The National Weather Service said barge capacity along the river was down 10% to 20%, and the river was nearly 10 feet below normal.
Shallower drafts and smaller tows raise per-bushel barge freight and slow grain movement to Gulf export positions, which can widen Gulf basis and weigh on Midwest cash prices.
agriculturedive.comSarah ZimmermanJul 10, 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.
