The low water levels on the Mississippi River are adding to the volatility in the fertilizer business. A quarterly report from Rabobank said the river shipping problem could influence supplies of some types of fertilizer. Ammonia prices are up 15 percent year-over-year. The Rabobank analysis said the bottlenecks on the river have hurt soybeans the most because beans are so dependent on exports. The secondary rail markets are at the highest level since 2012. The cost for trucking freight is down four percent from its peak in May, but still 17 percent above one year ago.
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