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The McClellan-Kerr Navigation System, a 445-mile waterway serving Kansas, Oklahoma, Missouri, Arkansas and Colorado, is 50 years old and has a growing backlog of infrastructure repairs. A breakdown could force farmers to use costlier shipping and fertilizer routes.
A possible outage on this system would raise barge costs for soybeans, grain and fertilizer in the southern Plains, which would widen basis and freight differentials rather than move flat futures much.
nebraskapublicmedia.orgSeth Bodine, Harvest Public MediaApr 15, 2021Not enough comparable past events yet for a historical read.
After 1,054 past logistics events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.5% to +1.5%), and -0.0% over 20.
After 837 past logistics events, Soybeans moved a median +0.4% over 5 sessions (55% higher; middle half -1.5% to +2.0%), and +0.6% 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.
