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The Coast Guard in New Orleans issued a low water safety advisory for the Lower Mississippi from Mile 167 to Mile 303 after the Baton Rouge gauge fell to 12 feet or below. Vessels are told to adjust tow sizes and drafts to decreasing channel depths.
Reduced drafts and tow sizes cut barge capacity and raise freight costs, pressuring Gulf export grain basis and barge rates.
irpt.netTessa AndresJun 12, 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.
