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Flooding on the upper Mississippi kept barges stranded for nearly three months, the longest such standstill on record. A barge fleet near Cairo, Illinois held 642 barges by early June, carrying salt, fertilizer and steel.
Barges have since resumed moving and the backlogs have largely cleared.
Stranded barges delayed grain and fertilizer shipments, raising freight costs and widening regional basis. With movement restored, the pressure on barge freight and river-linked grain prices should ease.
npr.orgMadelyn BeckAug 16, 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.
