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USDA's Grain Transportation Report says U.S. grain stocks were a record 5.8 billion bushels on September 1, 2019, and fall harvest deliveries were 8% below the prior year. Stocks fell to 16.9 bbu by December 1 and high river water persisted.
Weak grain movement demand from December onward and a barge surplus point to soft freight demand, which can pressure barge rates even as transport needs could rise in the 2020/21 marketing year.
doi.orgFeb 27, 2020Not enough comparable past events yet for a historical read.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), 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.
