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Iowa Agribusiness Radio Network reported that dredging has begun on the lower Mississippi River from Baton Rouge to the Gulf of Mexico. The United Soybean Board says the 45-to-50-foot deepening could cut shipping costs by about 13 cents a bushel.
The federal government and Louisiana are both investing in the project.
Lower barge and ocean freight costs for soybeans would improve export margins and farm-gate prices, so the project is supportive for soybean demand and Gulf basis.
iowaagribusinessradionetwork.comDustin HoffmannAug 11, 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.
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.
