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Unusually low water on the lower Mississippi is causing barges to become stuck in mud and sand, disrupting shippers, recreational boaters and a cruise line. An industry official said 29% of the US soybean crop moves by barge.
With a large share of soybean movement reliant on barges, groundings reduce southbound capacity and push soybean basis lower in the interior while raising transport costs.
apnews.comJim SalterOct 6, 2022Not enough comparable past events yet for a historical read.
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.
