Loading…
Midwest flooding since mid-March has pushed Mississippi River levels near record highs, slowing barge grain traffic and closing parts of the river system. Railroads have also been hit by flooding and washouts, including a Union Pacific service outage on two subdivisions.
The report notes delayed crop progress and a likely reduction in next year's corn crop.
Barge and rail disruptions raise freight costs and delay grain movement, which widens basis and raises delivered feed costs in affected regions. Barge freight rates are likely to stay elevated while river restrictions persist.
doi.orgJun 27, 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.
