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Drought across the upper Mississippi region has lowered river levels, causing navigation problems for barges that can run aground on unexpected sandbars. The Corps reports more groundings near Wacouta than in the past decade or more, and only one barge with a tug can pass that stretch at a time.
Shallow water and restricted passage raise barge transit times and freight costs for grain moving to the Gulf, which can narrow farm-gate bids in upper Midwest origins and lift barge rates.
dredgewire.comPaul BluemnerJun 23, 2021Not enough comparable past events yet for a historical read.
After 284 past neutral logistics events, Corn moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.4%), and -0.2% over 20.
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.
