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At least seven vessels grounded on the Mississippi River between Memphis and Cape Girardeau after January 22 during extreme low water, and three of the groundings left barges adrift. Officials said rain on January 25 would add some water at Memphis but not enough to help St. Louis, and dredging was delayed because the Memphis district's dredge was out for repairs.
Low water and groundings restrict barge drafts and halt traffic, which raises barge freight rates and can delay grain shipments from Illinois and the Midwest, weighing on Gulf basis and FOB prices.
waterwaysjournal.netShelley ByrneJan 29, 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.
