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Cargill grain terminals at Hickman, Kentucky and Keithsburg, Illinois have stopped accepting corn and soybean deliveries because of low Mississippi River levels. Hickman noted it is full on corn and yellow soybeans and that the harbor closed due to low water.
The Soy Transportation Coalition said the inland waterway system lacks normal capacity to handle the harvest.
Halted deliveries at major river elevators reduce local demand for farmer grain and widen basis, while forcing buyers to source from distant origins. Feed users in affected areas may face tighter corn and soymeal availability and higher logistics costs.
dtnpf.comChris ClaytonOct 26, 2022After 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.
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.
