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Low river levels and lock back-ups on the Mississippi system pushed barge freight rates to a three-year high on September 29. Dozens of barge tows were delayed by low water and emergency repairs on a Ohio River lock and dam, and exporters faced a growing backlog of bulk ships at the Gulf Coast.
Higher barge freight and delayed loadings cut the net price farmers receive for soybeans and corn during harvest. Export sales risk shifting to rival South American suppliers.
archives.lincolndailynews.comSep 30, 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.
