# Low river levels, barge freight, and widening basis

> Mississippi River levels have fallen to near-record lows due to dry weather, slowing barge traffic on the Lower Mississippi. Barge freight rates rose to about $30 per ton as of September 5, compared with a record near $90 per ton in 2022 when the Memphis gauge hit -10.81 feet. The article explains that higher freight weakens local crop basis near the river.

- Date: 2023-10-06 · published 2023-10-06T12:00:00.000Z
- Category: logistics · region US · magnitude medium
- Page: https://feedsoft.ai/events/16596-low-river-levels-barge-freight-and-widening-basis
- Commodities: [Barge Freight (St. Louis)](https://feedsoft.ai/c/BARGE.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Higher barge freight widens basis at river elevators, cutting prices paid to farmers in the Lower Mississippi area. The effect depends on how long low water persists.

## Read by commodity

- CORN: bearish ▼
- BARGE: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-09-30 | [Low River Levels, Soaring Barge Freight Curb U.S. Grain Exports](https://feedsoft.ai/events/16682-low-river-levels-soaring-barge-freight-curb-u-s-grain-exports.md) | +1.0% | +3.8% |
| CORN | 2023-09-18 | [High Barge Freight, Low River Levels Detrimental to Farmers at Harvest](https://feedsoft.ai/events/34292-high-barge-freight-low-river-levels-detrimental-to-farmers-at-harvest.md) | -8.5% | -6.6% |
| CORN | 2022-11-07 | [Mississippi River's Low Levels Causing Barge Traffic Issues](https://feedsoft.ai/events/10337-mississippi-river-s-low-levels-causing-barge-traffic-issues.md) | -0.7% | -5.4% |
| CORN | 2023-08-30 | [Corn basis following Mississippi River levels downward](https://feedsoft.ai/events/12852-corn-basis-following-mississippi-river-levels-downward.md) | -0.0% | -8.2% |
| CORN | 2022-11-23 | [River Levels and Barge Rates Impacting Corn and Soybean Basis - Center for Commercial Agriculture](https://feedsoft.ai/events/38711-river-levels-and-barge-rates-impacting-corn-and-soybean-basis-center-for.md) | -1.6% | -1.8% |

## Sources

- farmprogress.com: https://www.farmprogress.com/crops/low-river-levels-barge-freight-and-widening-basis

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.