Loading…
The USDA reported that the St. Louis barge spot rate fell 49% in the week of November 8 to $40.74/ton, its lowest since September 20. The drop followed recent rain that eased low river levels, though the rate remained 145% above the same week last year.
Lower barge freight reduces the cost of moving grain down the Mississippi, which narrows basis and supports interior grain prices. Rates remain far above normal, so the relief is partial.
feedandgrain.comFeed, Grain StaffNov 10, 2022Not 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.
USDA reported the St. Louis barge spot rate fell 49% in the week of Nov 8 to $40.74/ton as rain eased low river levels, which directly matches the size and timing of the one-day drop.
