Water levels on the lower Mississippi River remain low, limiting channel depth and width restrictions. That’s causing shipping rates to increase and basis levels to widen along river terminals. According to the Soy Transportation Coalition, shipping a ton of soybeans loaded on barge between Saint Paul and St. Louis costs $51.02 per ton the week leading up to September 20. Taking a closer look at the basis levels: in Aurora, Indiana, soybean basis is a negative $1.29 and corn basis at negative $1.02; to St. Louis, Missouri with soybean basis at negative 90 cents. Current corn basis is at negative 30 cents, a slight change from previous years. Some of the carryover is trickling into basis in the Northern Plains.
