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Extreme drought in the Midwest is drawing down Mississippi River levels for a third year, with the Lower Mississippi nearly 10 feet below its historic average at Memphis as of September 24. Dry conditions have returned to the Ohio River basin, which supplies more water to the Mississippi than any other tributary.
Load restrictions are raising costs for companies moving fuel and grain downriver.
Drought-driven river restrictions increase downstream transport costs and push shippers toward trucks and rail, which supports barge freight rates.
waterwayscouncil.orgWaterways CouncilSep 1, 2024Not 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.
