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Ingram Barge issued a force majeure notice on October 7 because low water prevented normal river operations below Baton Rouge. Barge rates in St. Louis had jumped 218% compared with 2021, and forecasts for river levels were poor.
A force majeure declaration by a major operator signals that barge supply in the lower river is constrained, which keeps freight costs high and pressures interior grain basis.
maritimeprofessional.comTom EwingNov 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.
