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The Soy Transportation Coalition said barge freight costs rose after Hurricane Ida damaged barges and reduced availability, with two lower Mississippi ports still closed. A CHS facility could reopen by month-end once power is restored, while a Cargill facility may take longer.
Reduced barge supply and closed ports keep freight elevated into harvest, which widens the gap between Midwest farm prices and Gulf export values.
wnax.comSep 21, 2021Not enough comparable past events yet for a historical read.
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.
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.
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.
