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Mississippi River water levels at Memphis stayed negative after a brief rise earlier in November, reaching minus 9 feet. Barge grain freight rates nonetheless declined and remained well below year-earlier levels, with the USDA transport cost indicator at 275 versus 670 a year ago.
Barge freight costs feed directly into the delivered cost of grain and feed ingredients on the Mississippi corridor. Softer rates ease transport costs for buyers even while low water persists.
freightwaves.comJohn KingstonNov 22, 2023Not 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.
