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Corn and soybean futures sold off after rallying on Friday's stocks report. Barge rates surged on the river system as low water on the Illinois River affected basis, and Chinese markets were closed all week.
Higher barge freight and weak basis reduce the net price farmers receive and slow exports, which pressures cash grain values. Routine profit-taking after the report rally also weighs on futures.
farmprogress.comOct 2, 2017Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
Describes futures selling off on Oct. 2 after the Friday rally, and barge rate spikes pressuring basis, which is directly relevant to the day's price move.
