(Source: Freight Waves, June 27, 2019)
CHATTANOOGA, Tenn. — Historically heavy rainfall in the Midwest region of the United States has contributed to surging prices of agricultural commodities in more ways than one. Breached levies and flooded fields prevented farmers from planting their crops and also disrupted barge and rail traffic, preventing stockpiles from reaching global markets. According to the most recent American Association of Railroads data (he Week 25 report), grains volumes year-to-date are down 4.9 percent. Railroads exposed to Midwest agriculture – BNSF and Union Pacific – have experienced the largest drop in grains volumes so far this year at 11.1 percent and 7.6 percent, respectively.
Full story: Freight Waves