Friday, January 1, 2016

Flooding along Mississippi boosts grain prices

Flooding along the Mississippi River has disrupted grain traffic and boosted prices for grains.

Soybean prices went up by 70 cents when flooding began in Missouri last week and corn got a 49-cent premium above futures-market pricing for those who could deliver to customers.

Farmers scrambled to get grain out of their bins before flooding.

The floods could reduce the U.S. share of global markets because of the delivery challenges. South American countries have more than enough to meet demand.