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US Representatives McCollum, Craig and Kind wrote to the Office of Management and Budget asking it to release $100 million for the Army Corps of Engineers to dredge the Mississippi after spring flooding. The funds were approved in June but have not been disbursed.
Delayed dredging raises the risk of further navigation restrictions on the river that carries a large share of US grain exports, which could widen export basis and raise freight costs.
dredgingtoday.comdredgingtodaySep 19, 2019Not enough comparable past events yet for a historical read.
After 439 past neutral policy events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +1.2%), and +1.1% over 20.
After 554 past neutral policy events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.4% to +1.6%), and +0.6% 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.
