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Low Mississippi River levels are restricting how much cargo barges can carry during the harvest shipping season. The U.S. Army Corps of Engineers says the river is several feet below normal at Dubuque, Iowa.
Freighters are adding trips and crews, which raises costs.
Reduced barge loads and extra towboat trips raise per-ton shipping costs, which lowers net prices for farmers selling harvested grain. The added expense supports higher barge freight rates across the system.
kcrg.comKeegan TurnboughOct 24, 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.
