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The Waterways Journal reports that barge rates are rising as the harvest approaches and damaged equipment is repaired. IHS Markit says the hurricanes' impact on barge movements was worse than Katrina's.
Five or six of nine major Lower Mississippi grain elevators have reopened, while the Cargill Reserve elevator may be offline for months.
Reduced elevator capacity and rising barge demand at harvest push freight rates higher, raising the cost of moving grain to export. Ample storage capacity limits the upside.
waterwaysjournal.netDavid MurraySep 24, 2021Not 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.
