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The Army Corps of Engineers approved a director's report to deepen the Mississippi River ship channel from 45 to 50 feet, from the Gulf upriver to the Port of Greater Baton Rouge. The project carries an estimated cost above $157 million and still needs Congressional appropriation before dredging can begin.
The lower river ports handle about 60% of the nation's grain exports.
A deeper channel would allow larger loads and lower per-ton shipping costs for grain, which could narrow Gulf export basis over time. The project is not yet funded, so near-term price effects are minimal.
freightwaves.comChris GillisAug 21, 2018Not 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.
