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A bipartisan group of members of Congress wrote to the U.S. Army Corps of Engineers urging it to prioritize funding for the Navigation and Ecosystem Sustainability Program on the Upper Mississippi River. The letter notes that the Infrastructure Investment and Jobs Act provides $2.5 billion for inland waterways as a category, but not yet for specific projects such as Lock and Dam 25, LaGrange and Lock and Dam 24.
Delays at aging locks slow barge traffic and raise transport costs for grain and soybean shipments from the Midwest. Funding commitments could eventually ease bottlenecks and narrow basis discounts for interior farm origins.
marinelog.comNick BlenkeyDec 13, 2021Not enough comparable past events yet for a historical read.
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.
