Mississippi River water levels remain historically low, impacting the movement of fertlizer and grain to the Gulf for export. As of Nov. 7, the gauge reading at St. Louis was -1.16 ft. NOAA forecasts estimate that the water levels at St. Louis will hit -2.4 ft by Nov. 20, nearing the low threshold of -3.2 ft. The current six-to-ten-day weather forecasts are predicting above-average temperatures and below-average rainfall over the Mississippi River Valley and the Ohio River Valley, which could further impact water levels along the lower Mississippi.

Even though Mississippi River levels are low, ocean freight costs are down week-over-week. U.S. Gulf to China is down $1 to $55 and U.S. PNW to China is down $0.75 to $28.25. U.S. Gulf to Japan rates fell $1 to $56 and PNW to Gulf fell $1.25 to $28.50.