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Commercial barge traffic on southern stretches of the Mississippi was at a standstill as low water halted shipments of grain, fertilizer and other commodities. At least two other lower river sections had also closed at times, disrupting grain flow to Gulf export terminals that handle about 60% of US corn, soybean and wheat exports.
A standstill on the main export corridor delays grain sales to buyers and forces interior prices lower while Gulf prices hold, widening basis and raising feed costs for buyers in affected regions.
reuters.comKarl PlumeOct 4, 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, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.5% to +1.8%), and +0.7% over 20.
After 137 past bearish logistics events, Wheat (SRW) moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.0%), and +0.0% 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.
