Mississippi
Mississippi River Shipping Rates Hit Record High
Harvest season is in excessive gear, and U.S. farmers have one other provide chain problem. Bloomberg says there aren’t sufficient barges transferring items up and down the shrinking Mississippi River.
Drought is drying a significant American waterway, which suggests lots much less room for vessels transferring corn and soybeans from farms to U.S. ports.
At one level final week, barge charges hit $49.88 per ton. That’s the very best worth on report and a 50 % leap from 2021 transport charges.
Greater than half of the corn and soybean shipments heading to world markets journey alongside the Mississippi.
The barge issues are hitting at harvest when the provides of grain will likely be at their largest. It additionally follows a difficult rising season full of climate issues and hovering inflation for issues like gas and fertilizer. Fertilizers wanted by producers to develop grain are additionally in danger as they ship alongside the Mississippi.