BLOOMINGTON, Ill. (AP) - An agricultural economics research company says last summer's low water on the Mississippi River cut the cash price farmers received for their corn by an average of 45 cents a bushel.
The Illinois Corn Marketing Board said Tuesday the study by Informa Economics of Memphis, Tenn., found that shipping corn by rail rather than barge cost an extra 45 cents a bushel. The board said money collected from farmers in Illinois and other states helped pay for the study.
Corn Marketing Board Chairman Larry Hasheider said last year's strong corn prices helped cushion farmers against the extra cost. He said that in another year the expense might have been more painful.
The 2012 drought lowered river levels and hindered shipping for an extended period.