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The Lower Mississippi was closed briefly on March 15 after the towboat Cooperative Spirit, carrying 29 grain barges, struck the Hale Boggs Memorial Bridge near Luling, La., causing a breakaway with two barges sinking. The river reopened on March 16 after the closure.
A brief closure of the Lower Mississippi delays grain barge movements to Gulf export terminals, but the short duration limits the effect on prices.
waterwaysjournal.netFrank McCormackMar 23, 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.
