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Louisiana signed a partnership agreement with the U.S. Army Corps of Engineers that unlocks federal funding for a $250 million project to deepen 256 miles of the lower Mississippi River from 45 to 50 feet. Dredging contracts can now be issued, with completion possible as early as 2024.
Larger vessels will be able to load fully at river ports as far north as Baton Rouge.
Deeper channels let bulk vessels load fully upriver instead of partially loading and transferring cargo at the Gulf, which should lower shipping costs for soybeans and corn exports and support Gulf basis and export competitiveness over time.
freightwaves.comJohn GallagherAug 3, 2020After 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.
After 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.
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.
