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The U.S. Grains Council reports that the Mississippi River and wider inland waterway system, covering more than 12,000 miles of marine highways, is operating normally despite COVID-19. Barge operations continue moving corn, soybeans and co-products from the Corn Belt to Gulf ports.
Uninterrupted barge service keeps freight costs low and supports Gulf export competitiveness for corn and soybeans, which is mildly bearish for basis and Gulf premiums.
grains.orgrwinkertMay 7, 2020Not 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.
