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RSS By: Kevin Van Trump, AgWeb.com

Kevin Van Trump has over 20 years of experience in the grain and livestock industry.

Flooding: Effect on Grain Prices This Week?

Apr 21, 2013

Weather hear in the US continues to be extreme! From drought to flooding in a blink of an eye. Reports indicate the Mississippi river is now expected to crest 8 to 12 feet above flood stage at several spots in Iowa, Illinois and Missouri, probably by Sunday or Monday, or later into next. Barge traffic on the Mississippi and Illinois rivers were halted on Friday due to several "locks" being closed because of dangerously high water levels.  Corn and bean prices spiked at the ports to 1 month highs, as grained was trying to be sourced to load cargo vessels.  On the flip side for producers, most Midwest river elevators saw prices slip as grain was backed up at the elevators. The Missouri River is also expected to exceed flood stage by up to 10 feet at some Missouri locations. Areas along the Red River Basin, between North Dakota and Minnesota, are also said to be sand-bagging in an effort to prevent flooding. Illinois Gov. Pat Quinn declared a state of emergency Thursday afternoon, as heavy rainfall over the past few days has created dangerous flooding in areas across the state. Up to a foot of new snow is expected in northern Minnesota. Duluth has already received 24 inches of snow this month, and the additional snowfall could push it past the April record of 31.6 inches set in 1950. Snow and ice forced closure of sections of Interstate 70 and Interstate 25 in Colorado.  How will these shutdowns effect grain prices this week?  Get all the insight to whats driving grains prices by CLICKING HERE....

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