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Soy Transportation Coalition's Mike Steenhoek says less rain has lowered water on the lower Mississippi, forcing shippers to load less cargo per barge. Barge tows are being reduced and turned more often, which adds costs, particularly between St. Louis and New Orleans where there are no locks and dams.
Lower load factors and more frequent barge turns raise the cost of moving grain to export, supporting barge freight rates and pressuring farm-gate and basis prices for corn and soybeans.
brownfieldagnews.comLarry LeeSep 29, 2022Not 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.
