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Many of the Illinois River locks underwent major rehabilitation last year, a project costing roughly $200 million. About 69 US locks are more than 80 years old, and the Waterways Council says upgrades are needed to keep farmers competitive abroad.
More than 60% of US corn is moved by barge.
Lock upgrades are needed to keep river export logistics competitive, which supports long-term corn basis and freight costs. The impact on near-term prices is limited.
ncga.comNational Corn Growers AssociationFeb 9, 2021Not enough comparable past events yet for a historical read.
After 1,623 past policy events, CORN moved a median +0.1% over 5 sessions (51% higher; middle half -1.4% to +1.5%), and +0.4% over 20.
After 1,905 past policy events, SOY moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.8%), and +0.2% 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.
