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Red River Farm Network reports that Mississippi River levels at Memphis have dropped 17 feet since June and will likely keep falling through the end of August. The article says this year's drop is less severe than in 2022 and 2023, but grain analysts are watching closely.
The river is down for a third straight year.
Falling river levels raise barge freight and limit grain shipments, so analysts expect some pressure on interior basis even though the drop is milder than in prior years.
rrfn.comDon WickAug 21, 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.
