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The Upper Mississippi River locks closed on December 10 for the winter, and Rock Island District locks 15, 16 and 17 closed December 13 for maintenance until March 3, 2017. The Columbia-Snake River locks will also be closed for 14 weeks for major repairs.
Closures halt barge movement of corn and soybeans from the upper river, which weakens river basis and pushes more grain onto rail and road, raising barge freight costs during the off-season.
After 297 past bearish logistics events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.5% to +1.8%), and +0.7% over 20.
After 359 past bearish logistics events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% 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.
