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Barges of corn are being loaded on the Mississippi River for Gulf export terminals as harvest movement continues. Gulf corn bids fell to 39 cents over December from 47 a week earlier, and soybean bids fell to 33 over January from 42.5.
Falling Gulf basis bids and easing barge rates signal ample export logistics and harvest supply, which is bearish for corn and soybean cash prices and freight costs for feed buyers.
farmprogress.comBob BurgdorferNov 14, 2016After 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.
After 297 past bearish logistics events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.5% to +1.8%), and +0.7% 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.
