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Dry weather and historically low snowpack mean the Mississippi will not return to normal levels soon, especially on the lower river, which lacks lock and dam water control. Consolidated Grain and Barge's Jason Selking says the low water has disrupted grain and ag freight moving along the river, and the basis has fluctuated as elevators struggle to move product efficiently.
Persistent low water keeps barge freight costs elevated and makes basis more volatile, which squeezes farm-gate prices and raises the cost of moving feed grains to Midwest users.
iowaagribusinessradionetwork.comDustin HoffmannApr 11, 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.
