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The US Army Corps of Engineers has run 17 dredges around the clock and contracted private dredging firms to keep Mississippi and Ohio river channels at required depths during a second straight year of low water. Corps officials acted earlier this year on known shallow spots and adjusted allowable barge loads, and the agency spends about $1.5 billion annually on such work.
Dredging limits how much barge capacity is lost to low water, which keeps freight rates from spiking further during harvest and reduces the risk of basis blowouts for feed grains.
dredgewire.comLisa ParkerOct 25, 2023Not 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.
