Loading…
US Customs and Border Protection closed rail crossings at El Paso and Eagle Pass on December 18, 2023, halting rail traffic into Mexico. Union Pacific estimates the disruption costs $200 million per day, and trains are being held at origin, leaving Mexican feeders short of grain and US domestic rail markets congested.
Stranded corn trains push surplus grain into the US domestic market, widening freight and basis discounts and weakening local corn prices until the rail flow resumes.
iowafarmbureau.comZach BrummerDec 21, 2023After 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.
