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Louisiana officials signed a formal agreement with the US Army Corps of Engineers to begin deepening the Lower Mississippi River from 45 feet to 50 feet. The project will allow larger vessels to reach ports from Baton Rouge down to the Gulf, including New Orleans and Plaquemines.
Deeper draft access lets larger vessels load heavier cargoes at Gulf export elevators, which can lower per-tonne ocean freight costs for grain and oilseed exports. The effect is long-term, as construction has only just begun.
portnola.comJul 31, 2020Not enough comparable past events yet for a historical read.
After 284 past neutral logistics events, Corn moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.4%), and -0.2% over 20.
After 230 past neutral logistics events, Soybeans moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.0%), and +0.1% 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.
