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Flooding on the Yangtze River slowed barges carrying grain from northern ports to southern China. Spot corn prices at major Yangtze ports rose 30 yuan to 1,800 yuan a tonne in a week.
Floods also disrupted hydropower generation.
Barge delays raise freight costs and tighten corn supply in central and southern China, supporting domestic corn prices and possibly increasing import demand. The effect on world prices depends on how long the disruption lasts.
reuters.comJul 4, 2017After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% 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.
