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USDA's October 5 Grain Transportation Report showed downbound barged grain volumes on the Mississippi system 25% below last year and nearly 30% below the five-year average. Year-to-date volumes through September 30 totaled 18.1 million tonnes, and restrictions on draft and tow sizes are tightest on the Lower Mississippi and Ohio rivers at Cairo, Illinois.
Low river levels and weak export sales reduce barge capacity and raise freight costs, which widens Gulf basis and pressures Midwest cash bids for corn and soybeans.
world-grain.comSusan ReidyOct 6, 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.
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.
