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Downbound barged grain movements through the Gulf recovered after Hurricane Ida, which had halted barge-unload operations in New Orleans for weeks. Tonnage for the week ended Oct.
16 rose 38% week on week and was more than 2.8 times the September weekly average, according to USDA AMS data.
Recovering Gulf barge flows ease the logistics squeeze on soybean and corn exports and reduce upward pressure on river freight, which is mildly bearish for barge freight costs and export basis.
world-grain.comMatt NoltemeyerOct 22, 2021Not enough comparable past events yet for a historical read.
After 230 past neutral logistics events, Soybeans moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.0%), and +0.1% 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.
