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American Commercial Barge Line issued restrictions on loading drafts and tow sizes on the Mississippi River as water levels hit multi-year lows, with one point reaching the lowest level in over a century of records. Groundings have occurred and delays of 48 to 72 hours were warned.
Shallow water cuts barge capacity and raises freight rates, which pressures grain shipments from the Upper Mississippi to the Gulf and can weigh on interior cash prices.
icis.comNov 28, 2021Not 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.
