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Year-to-date barged grain movements on the US inland waterways reached a record 14.5 million tons through the week ending May 8, 47% above last year. Barged corn hit a record 10.4 million tons, up 98% year on year.
Improved water conditions and strong Asian, especially Chinese, import demand were cited as the drivers.
Strong barge flows signal robust US corn export demand and efficient logistics, which supports corn basis and futures. Barge freight costs are likely to stay firm while volumes remain this high.
feedandgrain.comMay 13, 2021After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% 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.
