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Lower Mississippi River water levels are raising concern among farmers shipping grain for export, according to the Grain and Feed Association of Illinois. Illinois yields are better than expected, adding storage pressure from carryover crop.
Low river levels restrict barge loading and raise freight costs, which can widen basis at Gulf-linked origins and pressure corn and soybean prices lower in the interior.
wmix94.comWithers SyndicationNov 2, 2017Not 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.
