Loading…
Record low water levels are forecast for several Mississippi River communities between St. Louis and New Orleans, including Caruthersville, Missouri, and Osceola, Arkansas. The National Weather Service expects the Memphis gauge to reach its second-lowest level ever by October 13, just as the harvest moves corn and soybeans toward export.
Shallower water forces barges to carry less cargo and raises freight costs, which can widen the basis at Gulf export terminals. Higher transport costs weigh on US corn values relative to competing origins while lifting the cost of barge freight.
apnews.comJim SalterSep 29, 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.
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.
