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Drought across the central US is shrinking the Mississippi River, sending barge rates soaring. Dry conditions in the Ohio River basin, which feeds the Mississippi, have worsened already low water levels.
Shipments of corn and gasoline are threatened.
Low river levels cut barge tow sizes and raise freight costs, which widens the gap between Midwest farm prices and Gulf export prices. Buyers should expect higher delivered feed costs and possible delays in grain loadings.
bloomberg.comBrian K Sullivan, Tarso VelosoSep 5, 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.
