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A USDA Grain Transportation Report reprint says Midwest flooding since mid-March has pushed Mississippi River levels near record highs and slowed barge grain traffic. St. Louis barge traffic was stopped on May 23 when the gauge passed 38 feet.
Railroads are also recovering from flood washouts, and the flooding is expected to reduce next year's corn crop.
Flood-related transport delays raise freight costs and cut grain movement to export and processing points, while the expected smaller corn crop adds upward pressure on prices.
grainjournal.comJun 27, 2019Not enough comparable past events yet for a historical read.
After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% 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.
