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The Corps of Engineers forecasts the Mississippi at St. Louis could fall to about -5 feet by December 13 and near -5.4 feet by December 20, placing it among the lowest levels on record. Reduced Missouri River releases from Gavins Point are contributing to the decline.
Record-low river levels restrict barge loads, raising per-bushel freight costs and pushing Gulf export basis weaker for corn, soybeans and wheat.
waterwaysjournal.netShelley ByrneDec 1, 2023Not 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.
