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Low water on the Mississippi River and its tributaries has cut barge capacity for grain and soybean exports. Barge rates reached their highest levels in years, though they eased in the week of November 8 after October spikes.
Shippers are weighing storage, trucking to local markets and rail as alternatives.
Expensive and scarce barge space widens Gulf basis discounts and pushes exporters toward costlier rail or storage. This raises freight costs and can weigh on farm-gate prices in the interior.
freightwaves.comJoanna MarshNov 18, 2022Not 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.
