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An analysis cited by Farm Policy News reports that nearly 80% of commercial lock sites had an unexpected outage in 2016, up from 71% in 1993. The average delay rose to 144 minutes from 90 minutes over the same period, and some shipping has shifted off the river.
Longer lock delays raise barge transit costs and tie up grain, which widens basis and adds to freight costs passed on to buyers. Rising river freight costs support barge rates and weigh on Midwest farm-gate bids.
farmpolicynews.illinois.eduKeith GoodAug 3, 2017Not 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.
