Brady Dennis, Laris Karklis, Scott Dance and Tim Meko reported on the front page of today’s Washington Post that, “The nation’s mightiest, most mythic waterway has been strangled by months of dry conditions, which have sent water levels plummeting to historic lows.”
Keith Good
Keith Good is the Farm Policy News editor for the farmdoc project. He has previously worked for the USDA’s National Agricultural Statistics Service, and compiled the daily FarmPolicy.com News Summary from 2003-2015. He is a graduate of Purdue University (M.S.- Agricultural Economics), and Southern Illinois University School of Law.
“Relative Optimism” on Black Sea Grain Export Deal, While Some Mississippi River Grain Terminals “Halt” Deliveries
Reuters writer Michelle Nichols reported yesterday that, “United Nations aid chief Martin Griffiths said on Wednesday that he was ‘relatively optimistic’ that a U.N.-brokered deal that allowed a resumption of Ukraine Black Sea grain exports would be extended beyond mid-November.”
“Mixed Rhetoric” Surrounds Renewal of Black Sea Grain Deal
Dow Jones writer Will Horner reported yesterday that, “The future of the Black Sea grains deal is shaping up to be agricultural markets’ key concern this week, while weather for South American farmers and macroeconomic developments such as economic data and central bank meetings will also be in focus.”
Mississippi River Barge Traffic “Continued to Struggle,” as “Active and Intensive” Discussions Occur on Black Sea Export Deal
Cameron McWhirter reported in Saturday’s Wall Street Journal that, “Barge traffic continued to struggle along the Mississippi River and its tributaries as low water caused boats and barges to run aground on sandbars up and down the river system. Areas near Memphis and other cities saw record-low river levels this week.”
Low Mississippi River Levels “Likely to Persist,” Black Sea Grain Deal in Focus, While Turkey Prices Rise
Reuters writer Karl Plume reported yesterday that, “Low water levels on the Mississippi River are likely to persist this winter as drier-than-normal weather is expected across the southern United States and Gulf Coast, U.S. government forecasters said on Thursday.”
Federal Reserve: Observations on the Ag Economy- October 2022
On Wednesday, the Federal Reserve Board released its October 2022 Beige Book update, a summary of commentary on current economic conditions by Federal Reserve District. The report included several observations pertaining to the U.S. agricultural economy.
“Fertilizer Prices Are Falling,” Black Sea Export Deal in Focus, While Mississippi River Flow Draws Attention
Bloomberg writers Elizabeth Elkin and Tarso Veloso Ribeiro reported yesterday that, “Fertilizer prices are falling as farmers balking at the high costs of nutrients hold off on purchases, driving down demand and causing gluts that are upending the market for crop inputs.”
Drought Closes Portion of Mississippi River- Soybean, Corn Exports Lagging, While Black Sea Export Discussions Continue
Bloomberg writers Michael Hirtzer and Diego Lasarte reported yesterday that, “Drought has again closed a portion of the Mississippi River — and this time shrunk a part of the major US waterway in Memphis to its lowest level ever.”
Mississippi River Flow a Continuing Concern, as Rising Dollar Impacts Food Importers
Cameron McWhirter reported in Saturday’s Wall Street Journal that, “Sections of the Mississippi River are approaching low water levels not seen in more than three decades, disrupting a vital supply lane for agriculture, oil and building materials and threatening businesses including barge and towboat operators, farmers and factories.”
Food Costs Up 11.2% Over Past Year, While Mississippi Water Level Worries Persist, and Russia Concerned About Black Sea Export Deal
Don Lee reported on the front page of today’s Los Angeles Times that, “That turkey you’re planning for the big family get-together is going to give you a nasty peck on the pocketbook. So will the flour for the gravy and the butter for the rolls.”
Lower Water Levels on Mississippi Tributaries a Concern, as U.S. Wheat Exports at 50 Year Low
Bloomberg’s Brian K Sullivan, Joe Deaux, and Michael Hirtzer reported earlier this week that, “The Mississippi River isn’t out of the woods as falling water levels along its major tributaries threaten to deepen a crisis on the US’s main artery for moving vital products.”
U.S. Supreme Court Weighs Impacts of California Pork Welfare Law, While Pace of Corn, Soybean Exports Slows
David G. Savage reported in today’s Los Angeles Times that, “The Supreme Court justices sounded wary Tuesday of California’s animal welfare law and its protections for breeding pigs, warning it could set off a wave of state laws that put a wide array of restrictions on products moving nationwide.”
Wheat Climbs to Highest Price Since June as Black Sea Tensions Rise; Transportation Variables in Focus
Bloomberg writers Kim Chipman and Megan Durisin reported yesterday that, “Wheat closed at the highest price since June as traders considered a worsening Russia-Ukraine war against lackluster US grain demand.”
After Bridge Attack, Russia Launches Missiles into Ukraine- Wheat Climbs, While Mississippi Logjam Eases
Financial Times writers Roman Olearchyk, Mehul Srivastava, Max Seddon, and Christopher Miller reported today that, “Vladimir Putin has described Russia’s massive airstrikes on Ukraine, its most extensive since the early weeks of his seven-month invasion, as retaliation for the bombing of the bridge linking Russia to the Ukrainian peninsula of Crimea.”
“Backups and Bottlenecks” on Mississippi, as World Food Prices Fell in September
New York Times writer Jacey Fortin reported yesterday that, “Low water levels in the Mississippi River have snarled barge traffic along one of the nation’s busiest waterways this week and have threatened the drinking water supply in Plaquemines Parish, La., just southeast of New Orleans.”
Low Waters on Mississippi River Creates “Logjam,” as Bird Flu Spreads in California
Bloomberg writers Michael Hirtzer, Elizabeth Elkin, and Joe Deaux reported yesterday that, “A logjam of more than 100 ships, tugboats and their convoys of barges in the shrinking Mississippi River is threatening to grind trade of grains, fertilizer, metals and petroleum to a halt.”
“Most Expensive Crop in Decades,” Farmers Battling Skyrocketing Costs
Sarah Bowman, writing on the front page of the Money section in today’s USA Today, reported that, “Outside Evansville, near the corner of Indiana where it meets with Kentucky and Illinois, Randy Kron farms about 2,200 acres of corn and soybeans.”
China Dynamics in Focus, While U.S. Supreme Court Considers Scope of the Clean Water Act
Bloomberg writer Jinglu Gu reported yesterday that, “China has curbed exports of corn starch in a signal that the world’s biggest corn importer is likely worried about local supplies.”
IMF- Food Insecurity Rising Since 2018, War in Ukraine Push Food and Fertilizer Prices Higher, as Mississippi Barge Rates Hit Record High
Wall Street Journal writer Yuka Hayashi reported late last week that, “Sharp rises in food and fertilizer prices caused by the war in Ukraine are creating the worst global food crisis since at least 2008, putting the lives and livelihood of 345 million people in immediate danger, the International Monetary Fund said Friday.”
One of the Strongest Storms to Ever Hit the U.S., Hurricane Ian Causes Damage and Destruction
Elizabeth Findell, Dan Frosch and Cameron McWhirter reported on the front page of today’s Wall Street Journal that, “A day after Hurricane Ian ripped through the beach towns and coastal cities of southwest Florida, the widespread damage wrought by one of the strongest storms to hit the U.S. in decades was coming into view.”