Loading…
Grain barge volume on the Mississippi reached 1.02 million tons for the week ending November 30, the highest weekly total of 2019 and 52% above the prior year. The upper Mississippi closed to new shipments for winter, and Locks 24 and 25 near St. Louis will close from December 15 through March 31, 2020.
Winter closure of key upper river locks removes barge capacity from the north, which tends to lift barge freight rates and shifts grain to rail and trucking. Farm-level basis in northern origins may weaken as shipping options narrow.
m.fotoarslan.comDec 5, 2019Not 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.
