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Historic spring flooding has closed parts of the Mississippi River, leaving far less barge traffic than normal for this time of year. Farmers who would normally ship last season's soybeans, corn and other grain down the river are unable to move them.
The disruption also affects shipments of fertilizer, potash and steel.
Stranded grain and reduced barge capacity raise transport costs and slow export shipments, supporting basis levels and freight prices. Inability to move inputs may also delay fertilizer application and affect planting.
mprnews.orgAssociated PressMay 18, 2019Not enough comparable past events yet for a historical read.
Not 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.
