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Water levels on the Mississippi and Ohio rivers fell sharply in the past week, following record lows in October 2022. Dryness across the Midwest has lagged US soybean crop condition ratings, and CBOT July soybeans settled at $14.956 after falling 1.5%.
Low river levels raise barge costs and threaten US soybean export volumes through the Gulf, while poor crop conditions add weather-driven upside risk to soybean prices.
mintecglobal.comRoxanne NikoroJul 17, 2023After 206 past bullish logistics events, Soybeans moved a median +0.5% over 5 sessions (56% higher; middle half -1.3% to +2.6%), and +1.4% 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.
