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Severe ice storms temporarily halted barge operations on the Mississippi around St. Louis, the Ohio, the Illinois and the Lower Mississippi. Total barge grain movements for the week ending February 20 were 488,462 tons, 46% below the four-week average and the lowest since April 2020.
Most barges have resumed, but Illinois River traffic remains slowed.
Fewer barges mean weaker bids for interior grain and higher freight costs for buyers relying on river transport. Backlogs could keep local basis and barge rates under pressure in the near term.
doi.orgMatt Chang, Matt, Matt Chang, Matt, Kranti Mulik, KrantiFeb 25, 2021Not enough comparable past events yet for a historical read.
After 359 past bearish logistics events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% 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.
