For the week of Nov. 8, the St. Louis spot rate fell 49% from last week to $40.74 per ton, the U.S. Department of Agriculture reported today.
This is the lowest rate since the week of Sept. 20 (when the rate was $38.10 per ton) and 62% lower than the all-time record high of $105.85 per ton the week of Oct. 11, the USDA said in its weekly Grain Transportation Report released today. The rate is still 145% higher than the same week last year and 128% higher than the three-year average.
The St. Louis one-month rate fell 12% from last week to $36.58, its lowest since Sept. 13. The St. Louis three-month rate held steady from last week at $30.09 per ton.
Although closures and dredging operations are still disrupting the Mississippi River System (MRS) daily, recent rainfall has helped stabilize portions of the system, the USDA said. The improved conditions have allowed empty barges to move more freely. Forecast models indicate rain that will help the MRS water levels rise near Cairo, Ill., and Memphis, Tenn., in the next few weeks, which will further stabilize the MRS.
