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The Iowa Soybean Association reported that the recent partnership agreement has officially launched the lower Mississippi River deepening project. A Soy Transportation Coalition study estimates a $71 million benefit to farmers from the deepening of the 256-mile stretch.
The stretch handles 60% of U.S. soybean exports and 59% of corn exports.
Lower freight costs on the river should narrow basis discounts for Iowa and other Midwest origins, supporting farm-gate soybean and corn prices as export logistics improve.
iasoybeans.comIowa Soybean AssociationAug 6, 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.
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.
