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USDA's Agricultural Marketing Service released a report titled "A Reliable Waterway System Is Important to Agriculture." It projects U.S. agriculture will contribute $10.5 billion to the trade balance in fiscal 2022 and that 22 percent of U.S. grain output will be exported in marketing year 2021/22. The Mississippi River, Texas Gulf and East Gulf ports handled 57 percent of grain exports in 2020.
The report reinforces the role of inland waterways in export logistics but contains no new supply or demand shock, so its direct price effect is small.
waterwaysjournal.netDavid MurrayFeb 19, 2022Not enough comparable past events yet for a historical read.
After 3,207 past report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.3% to +1.7%), and +0.5% over 20.
After 2,389 past report events, Soybeans moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.9%), and +0.1% 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.
