Flooding cripples grain barge shipments on U.S. Midwest rivers [Reuters]
Archer-Daniels-Midland Company (ADM)
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Source: Reuters
Flooding cripples grain barge shipments on U.S. Midwest rivers | Reuters 3 Min Read CHICAGO, Feb 22 (Reuters) - Grain barge shipping came to a near standstill in parts of the U.S. Midwest on Thursday as recent heavy rain and melting snow swelled rivers, halted barge loading and sidelined the towboats that haul farm belt crops to Gulf Coast export terminals. The flooded waterways sent cash premiums for corn barges delivered to Gulf Coast terminals soaring. Rates hit peaks on Thursday that have not been seen in 18 months, as exporters scrambled to secure enough grain to top off vessels bound for overseas markets, traders said. Barge lines suspended operations on northern sections of the Illinois River, with water levels already near record crests, or forecast to reach those levels by the weekend, according to National Weather Service river forecasts. The flooding prompted CME Group Inc to declare a condition of force majeure on Thursday afternoon, because the majority shipping stations
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ADM
Earnings
- 3/12/24 - Miss
ADM
Sec Filings
- 4/22/24 - Form 8-K
- 4/10/24 - Form ARS
- 4/10/24 - Form DEFA14A
- ADM's page on the SEC website