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Water levels on the Mississippi at St. Louis have been running low since late 2021 and are below zero gauge, while the Upper Mississippi and Illinois Rivers remain low. Barge drafts are expected to be cut from 10.5 to 9.5 feet the week of January 10, with possible tow size reductions and dredging needed.
Shallow water forces lighter barge loads and higher per-tonne freight costs, which widens basis discounts for Gulf-bound corn and soybeans and can slow grain movement to export terminals.
dtnpf.comMary KennedyJan 10, 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.
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.
