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Low Mississippi and Ohio river levels are restricting barge loads and raising freight rates, with some grain diverted. Strong domestic soybean crush demand and reduced U.S. yields are keeping soybean and corn prices high, though corn export sales lag the five-year average.
Shallow rivers raise delivered costs and widen local cash basis in the Midwest, squeezing feed buyers. Tight U.S. yields and firm crush demand keep soybean meal and corn supported.
hpj.comDavid MurrayOct 30, 2022Not enough comparable past events yet for a historical read.
After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% over 20.
After 206 past bullish logistics events, Soybeans moved a median +0.5% over 5 sessions (56% higher; middle half -1.3% to +2.6%), and +1.4% over 20.
After 167 past bullish logistics events, Soybean Meal moved a median +0.5% over 5 sessions (54% higher; middle half -1.8% to +2.9%), and -1.2% 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.
