Harvest progress is up, but river levels are down. South of St. Louis, parts of the Mississippi River are so low from weeks of drought that barge traffic is being limited. Since Sept. 1, 890 grain barges have unloaded in New Orleans, according to USDA’s grain transportation report. That’s nearly 40% fewer than the five-year average.
If you want to disrupt a government, disrupt the food supply. "Ag is critical infrastructure," says Andrew Rose, strategic advisor. “Three weeks without food and agriculture, and it’s over.”
Soybean prices slid on Friday after USDA’s Grain Stocks report was released. It’s not just stocks that have some analysts concerned — early yield reports from the Midwest are also surprising.
