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Hurricane Francine made landfall between New Orleans and Lake Charles on September 11 as a Category 2 storm, with no reports of significant damage to export elevators or the inland river system. Low water on the Parana, Madeira, Rhine and parts of the Mississippi is forcing light loading and tow restrictions near Baton Rouge.
The US Maritime Alliance and ILA contract expires September 30 with no talks reported, and a strike could start October 1.
Light loading and upriver tow limits raise barge and ocean freight costs, which lowers the effective price farmers and buyers receive for Gulf and river-delivered grain. A longer port strike would add further risk to US export flows.
grains.orgSep 19, 2024grains.orgSep 19, 2024Not enough comparable past events yet for a historical read.
Not 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.
Not enough comparable past events yet for a historical read.
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.
