Loading…
Flood waters have halted all barge traffic from Lock and Dam 17 north, according to the USDA Grain Transportation Report, with no boats above St. Louis as of April 24. Closures are expected to last about three weeks, and further lock closures could extend as far south as Lock 22 by May 5.
Stranded grain and slow sales have pushed barge freight rates below normal, which can cut shipping costs but also reduce river bids for corn and soybeans, and a longer shutdown would build up supply in the interior and pressure local prices.
wqad.comJenny HipskindApr 28, 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.
