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Barge traffic on the upper Mississippi could resume early next week if water levels keep dropping, according to a shipping official. Only about 90 barges have reached St. Paul this season, compared with a typical 1,400 by late June.
Several locks are expected to reopen around June 17 or 18.
The shortfall in upper-river barge arrivals means fewer grain shipments are reaching export channels, which keeps freight rates firm until backlogs clear.
wpr.orgJun 13, 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.
