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The U.S. Army Corps of Engineers says spring flooding on the upper Mississippi has flushed heavy sediment into the navigation channel, raising dredging needs at a dozen or more locations versus two or three in a typical spring. Dredges are working to clear the channel before river levels fall.
The sediment load traces partly to sustained wet weather last fall.
Dredging backlogs and slower navigation on the upper Mississippi reduce barge capacity and raise freight costs for grain shipments, which supports higher barge rates and weighs on river-delivered grain basis.
dredgewire.comBrian SmithMay 29, 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.
