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Emergency repairs to a cracked gate at the Melvin Price Locks and Dam near Alton, Illinois, closed Mississippi River barge traffic from Wednesday afternoon. By Friday, 19 northbound and 15 southbound tows were stalled, with reopening targeted for Sunday morning.
A multi-day closure backs up barges during harvest and can widen Gulf and river basis as shipments are delayed, while barge freight rates rise on the tight supply of barges.
komu.comThe Associated PressSep 1, 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, SOY 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.
