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The Mississippi River is unusually low for the third straight year, forcing barge companies to limit cargo loads. About 60% of U.S. grain exports move by barge down the river to New Orleans.
USDA data showed St. Louis-origin freight rates were up 57% versus the three-year average.
Cargo limits on barges cut the volume of grain reaching Gulf export terminals and push freight costs sharply higher. Elevated freight rates lower farm-gate bids for corn and soybeans from interior regions.
agrinews-pubs.comJim SalterOct 4, 2024Not 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.
