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The US Army Corps of Engineers plans to close six of the eight locks on the Illinois Waterway, starting with a two-week closure as early as August 2019. Longer closures of 90 to 120 days are expected in the summers of 2020 and 2023.
Shippers are being urged to reroute commodities through the Mississippi and St. Louis region or to ship outside the closure windows.
Lock closures on the Illinois River will reduce barge capacity and push grain volumes onto other routes, which tends to lift barge freight rates. Basis and freight costs for shippers in Illinois could widen as a result.
marinelink.comJul 17, 2019Not 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.
