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The Army Corps of Engineers says Mississippi River levels near Cape Girardeau are approaching historic lows and are projected to fall below 9 feet, the minimum needed for barge navigation. The agency expects to keep traffic moving through dredging and lock and dam operations.
Falling river depth threatens barge loads and freight costs even if traffic continues, which can widen Gulf basis discounts for corn and soybeans.
semissourian.comDanny WalterJun 21, 2023Not enough comparable past events yet for a historical read.
After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% over 20.
After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% 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.
