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Record Midwest precipitation has hindered grain movement on the Mississippi River all season, with the river at flood stage for record days. Grain shipments had just begun picking up when Hurricane Barry disrupted Gulf Coast operations.
Barge bottlenecks raise freight costs and delay corn and soybean deliveries to Gulf export terminals, which can widen Gulf basis and weigh on farm-gate prices while lifting barge freight rates.
gro-intelligence.comJul 16, 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.
