Mississippi Flooding Affecting Food Prices

Although the Mississippi flooding is no where near finished, the economic blow to the region is already very high. Besides the loss to personal and commercial properties, over 100,000 acres of farmlands were flooded on the weekend and grain elevators all along the river are knee deep. The trade commerce that uses the river as a main transportation waterway is being slowed and in some places, barges are moored completely. Over 60 percent of the U.S exported grain is transported via the Mississippi – and the already volatile commodity markets are acting accordingly. Joining us on The Takeaway is Louise Story, Wall Street and Finance Reporter for our partner The New York Times. She says that the trickle-down effect from the floods will be felt far and wide.