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Frigid weather and heavy ice buildup on the Mississippi, Ohio and Illinois rivers cut grain barge shipments about 60% year on year in the first two weeks of 2018. Farmers fear that delayed U.S. shipments will lead buyers such as China to source from Argentina and Brazil, while high stockpiles already limit storage.
Lost export timing risks share in key buyer markets and adds pressure to cash prices already weighed down by large stocks. Higher freight costs for the remaining barge flow also add to the drag on farm-gate values.
tspr.orgKristofor HustedJan 22, 2018After 297 past bearish logistics events, SOY 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.
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.
