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Consolidated Grain and Barge's Jason Selking told an Indiana ag meeting that low water on the Lower Mississippi, which has no locks and dams, cut tow sizes from 42 barges to as few as 25. Slower movement left farmers unable to ship grain for export during harvest, and reduced capacity has driven price swings for grain and other ag products.
Smaller tows and slower barge movement raise freight costs and widen local basis, which lowers the price farmers receive at the elevator and raises the delivered cost of feed ingredients.
waterwayscouncil.orgApr 3, 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.
