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Hurricane Ida made landfall as a Category 4 storm on August 29, 2021, and the U.S. Coast Guard halted vessel movement on the lower Mississippi River from the Gulf to river mile 303. The Soy Transportation Coalition warned the closure and storm could hurt soybean exports, and a damage assessment is expected to take weeks.
A shutdown of lower Mississippi export terminals delays soybean and grain shipments during the start of the fall export season, which tightens nearby export demand and supports soybean and meal prices while pressuring basis.
centralmoinfo.comAug 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 167 past bullish logistics events, Soybean Meal moved a median +0.5% over 5 sessions (54% higher; middle half -1.8% to +2.9%), and -1.2% 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.
