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The Mississippi gauge at Memphis hit -10.79 feet, the lowest since records began in 1954, with no significant rain forecast in the basin. Groundings, light loading and restricted tow sizes are slowing movement of corn and soybeans.
Southbound barge rates from St. Louis reached $105.85 per ton on October 11, versus $28.45 a year earlier.
Sharply higher barge costs and slower movement reduce interior grain values and delay export supply, with prices in Ohio River terminals falling below normal relationships.
waterwaysjournal.netWaterways JournalOct 21, 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.
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.
