Tidbits, Basis, Venezuela & Oil, PMIs, South America Planting 9/2/25
- Wright team
- 2 days ago
- 5 min read
Tidbits
Basis: It has been dry in the Eastern Corn Belt since late July and before that in many places. That means the Ohio River is low and that means the Lower Mississippi is going to be low enough sometime this week that barges will not be able to be completely loaded and that means higher barge rates, weaker basis, which has already been factored into current bids. More than 50% of the water in the Lower Mississippi comes from the Ohio River.
Venezuela & Oil: A large buildup of U.S. naval forces in the Southern Caribbean has officials in Venezuela and political experts in the U.S. asking why?
Stephen Miller, deputy White House chief of staff, said on Friday the military buildup was aimed to combat and dismantle drug trafficking organizations, criminal cartels and these foreign terrorist organizations in our hemisphere. It is unclear exactly how the U.S. military presence would disrupt the drug trade. Seven U.S. warships, along with one nuclear-powered fast attack submarine, are either in the region or are expected to be there soon, bringing along more than 4,500 sailors and Marines.
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