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Barge traffic is returning to normal on the lower Mississippi, with water levels back to normal south of Cairo after low water last fall. Barge freight rates are falling as planting season approaches, though bulk rate contracts out of New Orleans are 15 to 20 percent above a year ago.
Upper Illinois River locks are scheduled to close for rehabilitation from June 1 through September 30.
Lower barge freight improves the economics of moving grain south and fertilizer north, while planned lock closures on the Illinois River could tighten capacity this summer.
ibjonline.comFeb 8, 2023Not enough comparable past events yet for a historical read.
After 64 past logistics events, Urea moved a median -0.3% over 5 sessions (48% higher; middle half -1.0% to +2.3%), and -0.3% over 20.
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.
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.
