Iowa-Based Companies Feel Flooding's Effects
The flooding in Iowa has spread its economic stress to more than just rising corn prices. Many Iowa-based companies are also feeling the strain, causing production to stop and stocks to move.
The railroad company's stock dropped as it declared an embargo on its main east to west line.
Union Pacific's embargo also caused problems for Archer Daniels. The company suspended ethanol production at its Cedar Rapids plant on its inability to bring in or send out goods, but the stock remained up.
Weyerhaeuser stock fell as the company temporarily closed a container board mill in Cedar Rapids.
Despite having to suspend work at its Columbus hog plant, which processes about 9,000 hogs a day, Tyson's stock rose.
Isle Capri Casino
Isle Capri's shares fell after the flooding led to the closure of the company's Davenport casino for the fifth day.