A grain and oilseed specialist says the water levels in the Mississippi River are slowing down the export market significantly. Rabobank strategist Steve Nicholson tells Brownfield the impact is already being felt at the Gulf of Mexico ports with basis levels increasing above $1.50 per bushel. “There are a number of things to be paying attention to from a farmer’s perspective, you know, keeping track of that local basis because it’s going to tell you everything about how freight is moving and what kind of demand there is for your product.”
Nicholson says product is still moving, but more by rail and less by barge, and that’s costing farmers money with higher rail rates.
