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Only two Mississippi River locks reported grain barge traffic in the latest reporting week. Year-to-date grain shipments are down nearly 30 percent from the three-year average, and spot barge rates for export grain have fallen for three weeks as shippers avoid high water.
Lower barge demand signals reduced river movement of grain, which weakens Gulf export basis and pressures interior cash prices, though falling barge rates reflect the lack of traffic rather than a rise in capacity.
rrfn.comDon WickApr 19, 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.
