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Corn is piling up on the ground as the US harvest winds down, with delayed loadouts due to higher deferred cash bids. Mid-Mississippi barge rates dropped sharply, from 425-450% of tariff to 350-375%.
Lower barge rates reduce shipping costs for corn and soybeans, and piled-up supply points to ample near-term grain, pressuring prices.
farmprogress.comBob BurgdorferNov 8, 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.
