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Hurricane Ida made landfall on the Louisiana coast on August 29 with a catastrophic storm surge, leaving New Orleans without power. Port facilities in New Orleans, Baton Rouge and South Louisiana have shut down, and the reopening timeline is unclear.
About 61% of US soybean exports and 58% of corn exports leave from Lower Mississippi ports, so prolonged closures would delay shipments and could pressure Gulf basis and export-linked prices.
ttnews.comDan RonanAug 31, 2021After 206 past bullish logistics events, Soybeans moved a median +0.5% over 5 sessions (56% higher; middle half -1.3% to +2.6%), and +1.4% over 20.
After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% over 20.
After 163 past neutral logistics events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.1%), and -0.3% 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.
