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Soy Transportation Coalition executive director Mike Steenhoek says low Mississippi River levels are arriving at the worst time of year, during peak harvest shipping. He says the river has been drastically low for the third straight year.
Reduced barge efficiency is pushing barge freight rates higher.
Limited barge capacity during harvest raises freight costs that flow back to farm-gate prices for grain and soybeans. Higher transport costs also widen the gap between interior and Gulf export prices.
brownfieldagnews.comBrent BarnettOct 16, 2024Not 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.
