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The USDA Grain Transportation Report showed the St. Louis barge spot rate rose almost 22 percent to $88.46 per ton for the week of October 25, below the all-time peak of $105.85 set October 11. Low river levels left barge companies with little spot capacity, and forward rates for November and January were far above last year and the five-year average.
Scarce barge capacity raises the cost of moving grain south, widening interior basis discounts and pressuring farm-gate prices while making export sales costlier to fill.
grainjournal.comOct 27, 2022Not enough comparable past events yet for a historical read.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% 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.
