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Hundreds of barges remain stalled on the Mississippi River, with almost 300 held at two locks and more waiting in St. Louis, Cairo and Memphis. Many of the stalled barges carry corn and soybeans bound for Gulf Coast export.
Railroads and highways have also closed, limiting crops reaching market.
Grain that cannot reach Gulf export terminals lengthens delivery times and raises barge and alternative freight costs, which weakens interior cash bids while boosting freight rates.
freightwaves.comFreightwaves AuthorJun 11, 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.
