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Mississippi River water levels have returned to more normal depths after two years of shallow conditions, following recent rains. Soy Transportation Coalition director Mike Steenhoek said drought conditions are improving across U.S. river systems.
Higher water and swifter current have led barge companies to take extra caution with tow configurations.
Restored river depths ease the logistical constraints that had raised barge freight costs, which lowers transport costs for grain and meal moving to Gulf export positions. Barge freight is likely to fall as navigation normalizes.
rrfn.comAshley LannenMay 16, 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.
