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Brian Burke of John Stewart and Associates says barge shipping is at a standstill from north to south due to high water on the Mississippi and Illinois rivers. Export programs are slowing, but the impact is smaller than usual because Brazil and Argentina are offering more export competition.
More rain is expected, making it hard to make forward export offers.
Barge standstill slows US export loadings and creates uncertainty for forward sales, supporting freight costs. Heavier South American competition limits how much US export demand can recover.
brownfieldagnews.comMay 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.
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.
