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Substantial rains in the central Plains and Midwest have swollen rivers from the central US to the Gulf, slowing barge traffic and reducing tow sizes. The Mississippi at Baton Rouge is forecast to crest at 41 feet, its highest in six years, with daylight-only transits and extreme high-water restrictions in place.
Reduced tow sizes and daylight-only transits raise barge freight costs and slow Gulf-bound grain flows, which supports Gulf basis and pressures farm-gate prices in the interior.
kfvs12.comSherae HoneycuttMay 9, 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.
