Loading…
Excessive rain across the central US slowed corn and soybean harvests and closed at least three Upper Mississippi locks (16, 17 and 20) as of October 9. Barge industry sources expected a roughly two-week halt to traffic between St. Louis and Davenport.
Cash corn bids for barges to the Gulf firmed on exporter demand and tight pipeline supplies.
Lock closures stall Gulf-bound corn and soybean barges, tightening nearby supplies and supporting Gulf corn basis, while delayed harvest adds to near-term logistics strain.
maritimeprofessional.comJulie IngwersenOct 10, 2018After 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.
After 206 past bullish logistics events, Soybeans moved a median +0.5% over 5 sessions (56% higher; middle half -1.3% to +2.6%), and +1.4% over 20.
Not 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.
