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Grain barges were being loaded in the Quad Cities as shippers prepared for the Upper Mississippi navigation opening. Gulf corn and soybean basis eased on expectations of higher barge volumes, and South American competition weighed on Gulf bids.
Expected barge volume increases should pull Gulf basis lower as more supply moves to export positions, while seasonal South American competition limits export demand for US corn and soybeans.
farmprogress.comBob Burgdorfer Senior Editor, Farm FuturesMar 6, 2017After 284 past neutral logistics events, CORN moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.4%), and -0.2% over 20.
After 230 past neutral logistics events, SOY moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.0%), and +0.1% 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.
