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Severe flooding in the central US has devastated river towns and farmland and caused over a dozen deaths. The U.S. Coast Guard closed a 76-mile stretch of the Mississippi between Chester and Cairo, Illinois, halting most agricultural barge traffic on nearly all river segments.
Halted barge traffic blocks grain movement to Gulf export terminals, widening Gulf basis and raising freight costs while pressuring local cash prices for corn and soybeans.
dtnpf.comMary KennedyMay 8, 2017After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% over 20.
After 206 past bullish logistics events, Soybeans moved a median +0.5% over 5 sessions (56% higher; middle half -1.3% to +2.6%), and +1.4% 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.
