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Drought across the Midwest is raising renewed concern about Mississippi River levels, with main tributaries running low. Barge captain Jimmy Cheatham says barges are already being sent lighter, which affects states including Iowa, Minnesota and Wisconsin.
Lighter barge loads and tributary drought raise freight costs and can weaken upper Midwest cash grain bids and lift barge rates.
iowaagribusinessradionetwork.comDustin HoffmannJun 22, 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.
