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Informa Economics' Ken Eriksen expects a very short barge harvest season this year without the usual freight rate spikes, as barge capacity is ample and grain volumes are low. He estimated the 2019 corn crop at 1.815 billion bushels and soybeans at 1.6 billion, with farmers holding record stored soybeans.
Ample barge capacity and weak grain volumes point to subdued barge freight rates, while large farmer stocks and limited trade flows keep pressure on grain prices.
waterwaysjournal.netDavid MurrayOct 25, 2019Not enough comparable past events yet for a historical read.
After 359 past bearish logistics events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% over 20.
After 297 past bearish logistics events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.5% to +1.8%), and +0.7% 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.
