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The controlling maximum freshwater draft for the Mississippi River Ship Channel from the Southwest Pass jetties to the Port of New Orleans was set at 50 feet for the first time. The Bar Pilots and Crescent River Port Pilots raised their recommended drafts, while the section from New Orleans to Mile 175 remains at 49 feet.
Full deepening will eventually extend to Baton Rouge.
Deeper channel drafts let larger, fuller grain vessels load at Gulf elevators, which can lower per-ton ocean freight and support export competitiveness for US grain and meal.
waterwaysjournal.netFrank McCormackJul 26, 2022Not enough comparable past events yet for a historical read.
After 284 past neutral logistics events, Corn moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.4%), and -0.2% over 20.
After 230 past neutral logistics events, Soybeans moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.0%), and +0.1% over 20.
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.
