# Market Perspectives August 31, 2017 - Page 9 of 10 - U.S. Grains & BioProducts Council

> Hurricane Harvey has closed all Texas ports until further notice, with ships waiting in the harbor and grain loading halted. Rail grain exports to Mexico through Texas have been disrupted by flooded track, and the storm is now moving toward New Orleans. The Baltic Panamax freight market eased slightly after a sharp rise over the prior month.

- Date: 2017-08-31 · published 2017-08-31T12:00:00.000Z
- Category: logistics · region US · magnitude high
- Page: https://feedsoft.ai/events/69349-market-perspectives-august-31-2017-page-9-of-10-u-s-grains-and-bioproducts
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [DDGS](https://feedsoft.ai/c/DDGS.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Sorghum](https://feedsoft.ai/c/SORGHUM.md)

## Why it matters

With Gulf export capacity shut, grain cannot ship and US export sales face delays, which pressures Gulf basis and futures while freight spikes. Buyers should review contract terms for delayed shipments.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- DDGS: neutral
- WHEAT: bearish ▼
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-03-14 | [Market Perspectives - March 14, 2024 - Page 6 of 9 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/31093-market-perspectives-march-14-2024-page-6-of-9-u-s-grains-and-bioproducts-council.md) | +0.4% | +3.5% |
| WHEAT | 2024-06-27 | [Ukraine’s corridor exported 37.4 million tons of agricultural products to 45 countries](https://feedsoft.ai/events/14296-ukraine-s-corridor-exported-37-4-million-tons-of-agricultural-products-to-45.md) | -2.2% | +4.2% |
| WHEAT | 2022-08-21 | [Black Sea dry bulk trade resumes as spot grains, fertilizer cargoes enter market - Supply Chain Council of European Union \| Scceu.org](https://feedsoft.ai/events/39922-black-sea-dry-bulk-trade-resumes-as-spot-grains-fertilizer-cargoes-enter-market.md) | -9.3% | -9.7% |
| WHEAT | 2021-05-14 | [Markets drop on post-USDA profit-taking: Grain market daily \| AHDB](https://feedsoft.ai/events/7463-markets-drop-on-post-usda-profit-taking-grain-market-daily-ahdb.md) | -1.3% | -4.0% |
| WHEAT | 2017-09-29 | [Hurricane Harvey impacts U.S. grain deliveries via rail \| World-grain.com \| September 29, 2017 19:29 \| World Grain](https://feedsoft.ai/events/68947-hurricane-harvey-impacts-u-s-grain-deliveries-via-rail-world-grain-com.md) | +5.6% | +10.7% |
| CORN | 2018-08-30 | [Market Perspectives - August 30, 2018 - Page 9 of 11 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/63426-market-perspectives-august-30-2018-page-9-of-11-u-s-grains-and-bioproducts.md) | +2.0% | +4.0% |
| CORN | 2020-08-27 | [Market Perspectives – August 27, 2020 - Page 7 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/51503-market-perspectives-august-27-2020-page-7-of-10-u-s-grains-and-bioproducts.md) | +1.6% | +7.0% |
| CORN | 2017-06-29 | [Market Perspectives June 29, 2017 - Page 9 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/70388-market-perspectives-june-29-2017-page-9-of-10-u-s-grains-and-bioproducts-council.md) | +5.9% | +3.9% |

## Sources

- grains.org: https://grains.org/market_perspectives/market-perspectives-august-31-2017/6/
- grains.org: https://grains.org/market_perspectives/market-perspectives-august-31-2017/9/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.