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Record high water on the Mississippi in 2019 caused major shipping delays, with more than 20 trillion gallons passing Lock and Dam 10 by November against a 50-year average of 12.4 trillion. Federal officials reported a 25% decline in shipping after continued high waters, and dredging needs rose sharply.
Reduced river tonnage in 2019 raised barge costs and pushed more grain onto rail and truck, supporting freight-driven basis spreads. This is a retrospective account, so it mainly explains the year's logistics costs rather than new price moves.
wpr.orgHope KirwanDec 25, 2019Not 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.
