Loading…
The Waterways Journal reports that the Lower Mississippi is in flood stage from Cairo to the Gulf, forcing 5 to 10 barge tow size reductions and daylight-only transit restrictions at Memphis, Vicksburg and Baton Rouge. The National Weather Service lowered its Upper Mississippi flood forecast from severe to moderate, and barge operations continue amid coronavirus restrictions.
Reduced tow sizes and longer transit times raise barge freight costs and slow grain delivery to Gulf export elevators, supporting Gulf basis and barge rates.
waterwaysjournal.netWaterways JournalMar 31, 2020Not enough comparable past events yet for a historical read.
After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% over 20.
After 206 past bullish logistics events, Soybeans moved a median +0.5% over 5 sessions (56% higher; middle half -1.3% to +2.6%), and +1.4% 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.
