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US Army Corps of Engineers, Louisiana and the Port of New Orleans agreed on August 7 to deepen the Lower Mississippi from 45 feet to 50 feet, a $250 million project slated for completion in 2024. The deepening would let bulk vessels load fully at river ports.
USDA estimates it will cut Gulf soybean landed costs by $5 per metric ton.
Lower Gulf shipping costs and wider basis reach would improve farm-gate prices and export competitiveness for US soybeans and corn over the long term. The effect on current prices is limited because the project will not be completed until 2024.
feedandgrain.comOct 2, 2020Not enough comparable past events yet for a historical read.
After 356 past bullish policy events, Soybeans moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% over 20.
After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), 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.
