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Low Mississippi River water levels, at least 30-year lows and record lows in parts of the South, are tightening capacity across agricultural freight. Barges have been loaded lightly to avoid groundings, and some vessels are staging along the shore awaiting water.
The Army Corps dredged channels near Memphis and Stack Island and reopened the river October 10, but low water persisted.
The river carries most US grain exports, so constrained barge capacity raises shipping costs and forces shippers toward rail or truck, supporting higher freight and reducing interior grain prices.
world-grain.comMatt NoltemeyerOct 26, 2022Not enough comparable past events yet for a historical read.
After 359 past bearish logistics events, CORN moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% over 20.
After 297 past bearish logistics events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.5% to +1.8%), and +0.7% 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.
