The Mississippi River has dropped to its lowest level in a decade due to severe drought in the U.S. Midwest. At a critical time for the annual U.S. crop shipments, this important river channel was closed to barge traffic.
The U.S. Coast Guard reported that as of Friday, 144 ships and 2,253 barges were queuing due to the closure of the waterway. In addition, low water levels caused 8 barges to run aground last week.
The report predicts that the route will not resume until October 14 at the earliest.The drought has pushed up barge rates, making U.S. corn extraordinarily expensive. Higher prices and lower supplies could prompt the USDA to cut its forecast for U.S. exports.
Here is a reminder that customers and forwarders who plan to ship to the United States in the near future must pay close attention to avoid unnecessary losses!
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