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A large part of the Mississippi River system is shut down by high water, and the river may not crest between Quincy and Muscatine for about two weeks. Upper River Services expects the next 500 miles to stay closed through most of April, the second-latest opening on record.
About 125 loads of fertilizer are waiting below the locks to move north to St. Paul.
A prolonged closure leaves fertilizer stranded and raises freight costs for spring planting, supporting urea prices and barge rates in the Upper Midwest.
rrfn.comDon WickMar 27, 2019Not enough comparable past events yet for a historical read.
After 49 past bullish logistics events, Urea moved a median -0.3% over 5 sessions (45% higher; middle half -1.3% to +2.2%), and -0.4% 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.
