Basis levels on the river have had a dramatic uptick in the last few months. According to a USDA report, barge movements remain slow, but the New Orleans area grain terminals last week reported a 35 percent increase in barges unloaded compared to the previous week. Farmers Business Network Chief Economist Kevin McNew says river movement is improving. “We’re still a long way from the Mississippi River normalizing, but there’s at least some positive movement.” Basis fluctuations have stayed close to the river and haven’t migrated north. “We’re seeing river problems and barge rates being more pronounced further south of St. Louis.”
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