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The USDA Grain Transportation Report says U.S. Army Corps of Engineers closures of several Illinois River lock and dam facilities from July 1 to October 28, 2020 will leave barged grain freight thin or nonexistent on most of the river. The benchmark for the barge cost index will switch to mid-Mississippi rates during the closures.
Diesel averaged $2.438 per gallon in the week ending July 13.
With Illinois River traffic halted, grain must move by rail or truck or through other river routes, which tends to raise freight costs and widen basis for origins served by the river.
doi.orgJul 16, 2020Not 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.
