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The Army Corps of Engineers will close the Columbia-Snake River System locks from January 14 to March 29, 2024 for maintenance and equipment replacement. Roughly 31.3 million tons of wheat, corn and soybeans moved through the system annually from 2016 to 2020.
CARB also delayed enforcement of some reporting provisions of its Advanced Clean Fleets rule for drayage trucks.
A ten-week closure forces Pacific Northwest grain onto rail and trucks or to other ports, raising transport costs and widening PNW basis, which is supportive for Gulf-route and rail-linked grain prices.
doi.orgJan 4, 2024After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% over 20.
After 206 past bullish logistics events, Soybeans moved a median +0.5% over 5 sessions (56% higher; middle half -1.3% to +2.6%), and +1.4% over 20.
After 283 past bullish logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), and -0.1% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
