Loading…
Upcoming Illinois River lock closures will disrupt deliveries of corn, soybeans, animal feed and ethanol to Gulf Coast export and consumption points. Platts analysts said the closure was timed for the growing season, and Gulf blenders are shifting ethanol to rail at a premium.
Reduced river supply to the Gulf may pressure Eastern Corn Belt cash prices while raising Gulf delivered costs, and the shift to rail and trucking adds freight costs for feed and ethanol buyers.
waterwayscouncil.orgJun 24, 2020
spglobal.comJosh Pedrick, Mark Novakovich, Wesley Swift, Sergio AlvaradoJun 24, 2020Not enough comparable past events yet for a historical read.
After 297 past bearish logistics events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.5% to +1.8%), and +0.7% over 20.
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.
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.
