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Drought has lowered rivers across the US, with the Mississippi at St. Louis forecast to fall to 2 feet and at Memphis forecast below zero gauge by August 21. Exposed shorelines and shallow water could restrict barge traffic if levels keep dropping.
Falling river levels raise the risk of barge draft cuts and groundings, which would raise freight costs and slow grain shipments to Gulf export terminals.
dtnpf.comMary KennedyAug 9, 2021Not enough comparable past events yet for a historical read.
After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% 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.
