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A Mississippi River barge captain says low water levels are limiting barge loads to sometimes half of normal, raising freight costs and squeezing terminal margins. He also flagged a shortage of about 180,000 maritime workers as a future risk to commodity movement.
Lighter barge loads raise per-ton freight costs, which lowers local cash bids for grain in upper Midwest origins and can build backlogs that delay shipments.
midwestfarmreport.comCharitee SeebeckerJun 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.
