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The St. Louis barge spot rate fell to $72.58 per ton for the week of October 18 from a peak of $105.85 the week before, though it remains up 130% year on year. Record-low Lower Mississippi water levels at Memphis and Ohio River dredging closures continue to delay barge traffic.
Some shippers have pushed deliveries later in the year.
Low river levels restrict barge capacity and raise freight costs for Midwest grain, which tends to weaken interior cash bids and support Gulf-related basis differentials.
doi.orgOct 20, 2022After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
Not enough comparable past events yet for a historical read.
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.
