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Extreme drought in the Midwest is lowering Mississippi River water levels for a third straight year. Water in Memphis was nearly seven feet below the historic average on Sept.
13. Drought has reemerged along the Ohio River basin, which supplies more water to the Mississippi than any other major tributary.
Persistent low water is raising barge freight costs and restricting loads during the fall harvest, which can widen basis and raise delivered costs for feed buyers. The impact depends on how quickly Ohio basin rainfall recovers.
investigatemidwest.orgBen FelderSep 16, 2024
waterwayscouncil.orgSep 16, 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.
