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Low river levels on the Mississippi and its tributaries have temporarily stopped some barges as soybean harvest advances, despite heavy rains from Harvey and Irma. Dry conditions across most of the U.S. during September left major rivers short of water, with rain forecast for parts of the Western Corn Belt in early October.
Low water raises barge freight costs and limits loads ahead of peak harvest movement, which can widen the gap between farm prices and Gulf export prices.
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.
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.
