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Low Mississippi and Amazon river levels are raising grain shipping costs, with barge use down as much as 25% this year. Brazil's Amazon ports, which handle about 30% of its exports, face El Niño-worsened dry-season constraints, and diverting to southern ports adds 20% or more to shipping costs.
Higher barge and inland freight costs widen basis and delivered prices for US and Brazilian grain, while Brazil's export constraints could tighten global corn supply and support prices.
cbts.tamu.eduNov 16, 2023Not enough comparable past events yet for a historical read.
After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% 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.
