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U.S. farmers face shipping backlogs for newly harvested corn and soybeans as Mississippi River delays and aging locks slow navigation. Barge costs to Gulf terminals are near record highs, and cash soybean premiums at St. Louis-area terminals fell to their lowest since at least 2011.
Transport bottlenecks trap supply inland, depressing local soybean premiums and bids while raising freight costs, which widens the spread between interior and Gulf prices for buyers.
gcaptain.comReutersOct 2, 2017Not enough comparable past events yet for a historical read.
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.
