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The USDA reported on May 18, 2023 that the Upper Mississippi had reopened to barge traffic, with the last lock to reopen, L&D 16, doing so on May 13. Barge traffic north of L&D 17 had been stopped since April 23 by flooding, while traffic further south continued.
An analysis estimates the resulting disruption to downbound grain shipments using L&D 15 data.
The reopening restores barge access for grain movement, but the stoppage delayed shipments that may now be cleared through the river, easing pressure on Upper Mississippi basis.
iowafarmbureau.comAaron Gerdts, Research Analyst, Decision Innovation Solutions on behalf of Iowa Farm Bureau.May 26, 2023Not enough comparable past events yet for a historical read.
After 284 past neutral logistics events, Corn moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.4%), and -0.2% over 20.
After 230 past neutral logistics events, Soybeans moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.0%), and +0.1% 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.
