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The Army Corps of Engineers is deepening the Lower Mississippi River to 50 feet, with $85 million in 2020 Work Plan funding under a July 2020 agreement with Louisiana. Dredging from the Gulf to the Port of South Louisiana is finished, and the remaining 256 miles to Baton Rouge are in progress.
The stretch between Baton Rouge and the Gulf carries more than 50% of U.S. corn and soybean exports.
Deeper draft lets ships load more cargo per trip, which can lower per-ton freight costs for grain exporters and support U.S. export competitiveness. Lower transport costs tend to narrow Gulf basis and support farm-gate prices.
dredgewire.comPaul BluemnerDec 15, 2021After 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.
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.
