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The US Army Corps of Engineers St. Paul District reported the last tow of the 2019 Upper Mississippi navigation season departed St. Paul on November 28. The season saw more than 12,000 commercial vessels and 77 million tons shipped, about 30% less tonnage than 2018.
A roughly 30% drop in river tonnage reduces barge capacity available for northern grain and oilseed exports, supporting higher freight costs and wider northern basis. The impact is largely backward-looking for 2019.
mvp.usace.army.milDec 2, 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.
