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The Army Corps of Engineers approved deepening the Mississippi River Ship Channel to 50 feet from the Gulf upriver to Baton Rouge. The Port of New Orleans says the deeper channel will let it handle larger vessels and grow container volumes.
A deeper channel lets Gulf export terminals load larger vessels more cheaply, which can narrow freight spreads for bulk grain. The effect on prices is gradual and depends on when the project is completed.
portnola.comDec 11, 2018Not enough comparable past events yet for a historical read.
After 1,054 past logistics events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.5% to +1.5%), and -0.0% over 20.
After 837 past logistics events, Soybeans moved a median +0.4% over 5 sessions (55% higher; middle half -1.5% to +2.0%), 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.
