shipping

There's a term traders use when the price of a commodity like oil has fallen because of oversupply but seems guaranteed to rise again.

It's a market that's "in contango," says Brenda Shaffer, an energy specialist at Georgetown University. "It almost sounds like a sort of great oil dance or something."

And Shaffer says that some oil speculators see an oil market that is in contango in a major way.

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The US Army Corps of Engineers this week began shutting flow from a South Dakota reservoir which feeds into Mississippi River, just north of St. Louis. The overall lack of water is expected to cause big problems moving freight on the river.

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Governor Jay Nixon (D) says his administration is keeping tabs on river levels along the Missouri and Mississippi as drought conditions persist across the state.  He indicates that the Missouri River may be in worse shape.

“I think that the challenges on the Missouri are a little more significant than the Mississippi," Nixon said at a gathering Wednesday in Jefferson City.  "Minnesota has had a fair amount of rain in that part of the country, but we’re watching those issues very carefully.”