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Dryness across much of the Eastern Corn Belt is raising concern about river levels that could slow barge traffic. Analyst Matt Hines says the river has recently hit record lows and expects the issue to return this summer.
Expected barge slowdowns raise freight costs and can weaken Eastern Corn Belt cash grain bids, while drought conditions also add to crop-yield risk.
rrfn.comDon WickJun 10, 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.
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.
