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For the week ending May 30, US grain export inspections totaled 1.88 million metric tons, down 15 percent week on week and 26 percent year on year. Flooding closed Upper Mississippi locks and reduced barge movements, with downbound tonnage on the Mississippi, Ohio and Arkansas rivers 29 percent below last year.
River closures raise barge freight costs and delay grain delivery to Gulf export positions, which tends to widen basis and firm freight rates.
doi.orgJun 6, 2019Not enough comparable past events yet for a historical read.
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.
