Barge Markets Remain Volatile as Export Demand Builds

Strong export demand supports barge markets, but weather risks remain.

A towboat, known as a pusher, pushes barges full of cargo up the Mississippi River near downtown Baton Rouge, Louisiana, USA_Photo by Matt Gush via Adobe Stock_828872155.jpg

A towboat, known as a pusher, pushes barges full of cargo up the Mississippi River near downtown Baton Rouge, Louisiana.

Photo by Matt Gush via Adobe Stock

NASHVILLE, Tenn. (RFD NEWS) — Grain barge movement on the Mississippi River System is entering 2026 with strong export demand but continued weather-driven volatility that could keep freight markets unsettled in the months ahead.

In 2025, total grain volumes moving through the Mississippi River System rose 11 percent from 2024 — the largest since 2022 — supported by record corn exports.

Wheat exports through the Columbia-Snake River System climbed 23 percent, driven by stronger soft white wheat demand. However, soybean volumes on the Mississippi fell to their lowest level since 2021, and wheat volumes were the weakest since 2010.

Weather disruptions shaped much of the year. High water, flooding, low water, and ice accumulation created draft and tow restrictions during harvest. Spot freight rates reflected that volatility. St. Louis barge rates averaged $19.26 per ton in the fourth quarter. More recently, winter ice pushed rates near $25 per ton — more than 60 percent above the five-year average — while volumes temporarily dropped sharply.

Looking ahead, USDA projects 2025/26 corn exports up 15 percent and wheat exports up 9 percent year over year. Unshipped export balances are 20 percent higher than a year ago, signaling strong forward demand for river transportation once navigation normalizes.

Related Stories
Corn and wheat inspections outpaced last year, but soybean movement remains seasonally active yet behind, keeping basis and freight dynamics in focus by corridor.
Lawmakers are pressing for answers on how Washington’s “managed trade” approach — keeping leverage through long-term tariffs — will affect farmers, global markets, and future export opportunities.
In the meantime, Senate Majority Leader John Thune is asking that farmers be allowed to use marketing assistance loans to help stay afloat.
Lyndsey Smith with Real Ag Radio joined RFD-TV to share a Canadian perspective on the discussions.
Bioethanol is becoming a global standard. For growers, that boom comes as drops in Mississippi River levels and in soybean demand occur in tandem, leaving barge space for corn and wheat.
The government shutdown has touched nearly every sector of the ag industry since it began, and now impacts are spilling over into dairy.

Tony St. James joined the RFD-TV talent team in August 2024, bringing a wealth of experience and a fresh perspective to RFD-TV and Rural Radio Channel 147 Sirius XM. In addition to his role as Market Specialist (collaborating with Scott “The Cow Guy” Shellady to provide radio and TV audiences with the latest updates on ag commodity markets), he hosts “Rural America Live” and serves as talent for trade shows.

LATEST STORIES BY THIS AUTHOR:

Outdated reporting thresholds reduce cash-market visibility and increase the urgency of comprehensive Mandatory Price Reporting reform.
Rural employers are slightly more optimistic, but labor shortages and renewed price pressures continue to limit growth across farm country according to a
Stable U.S. fundamentals continue for major crops, but global adjustments in corn, soybeans, wheat, and cotton may influence early-2026 pricing.
Corn and wheat exports continue to outperform last year, while soybeans show steady but subdued movement compared to 2024.
Tariff relief and new trade agreements may temper food costs by reducing import costs.
Grain farms still have strong balance sheets, but another stretch of low profits will force hard cost cuts, especially on high-rent, highly leveraged operations.