Farm Progress

Farm Progress America, October 11, 2023

Mike Pearson tells us about the low record water levels in the Mississippi River and the freight rates increasing.

October 11, 2023

Mike Pearson says history could be repeating itself when it comes to the Mississippi River.

Last year, farmers were forced to pay record prices for freight rates on the Mississippi River due to low levels caused by drought.

And in 2023, it's happening again.

The Mississippi Valley is again in drought territory and the movie sequel that no one wants to watch is happening.

The cost of freight dropped to $10 per ton over the spring when the water rose and the diesel prices dropped. Now, the prices are near $30 a ton and it has many wondering how high it will hit this harvest.

Data compiled on corn cash basis showed farmers in Mississippi, Arkansas and Tennessee saw low prices 40-99 cents below the five year average and those prices really hit those with limited on-farm grain storage the hardest.

Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Mike Pearson, farm broadcaster and host of This Week in Agribusiness.

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