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A National Weather Service hydrologist in western Kentucky says lower Mississippi River levels have returned as the new crop marketing year begins, which is typical for this time of year. River levels are forecast to fall further over the next 10 days without significant rain, though current forecasts stay three to four feet above the lows of recent years.
The Army Corps of Engineers has begun discussions about low levels near Memphis and possibly worse conditions between Memphis and New Orleans this fall.
Low river levels raise barge freight rates and can restrict loads on Gulf-bound grain and meal shipments. Higher freight widens the basis at harvest and lowers farm-gate prices relative to futures.
brownfieldagnews.comCarah HartAug 30, 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.
