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Barge rates stayed above their one- and three-year averages for most of 2018, but tariffs on Chinese imports and China's retaliation hit soybean movements. Through October, U.S. soybean shipments to China fell 94 percent according to USDA data.
Corn barge movements were up, and coal and oil and gas carriage continued to improve.
Lower soybean barge volumes reduce river demand and pressure barge freight, while the loss of Chinese demand weighs on soybean export values. Corn barge strength partly offsets this for river freight.
waterwaysjournal.netWaterways JournalNov 16, 2018After 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.
Not enough comparable past events yet for a historical read.
After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% 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.
