The Chicago Board of Trade on Tuesday terminated its declaration of force majeure at corn and soybean shipping stations on the Illinois River as the facilities are now able to load barges.
High water and flooding on the river early this summer prompted the force majeure declaration.
July 15, 2015
The CME Group has reinstated force majeure for CBOT shipping stations loading corn and soybeans on the Illinois River as a result of high water levels and flooding.
"Effective immediately and until further notice, pursuant to The Board of Trade…. rules 701 and 703.C.G….CBOT is hereby reinstating a condition of Force Majeure due to load-out impossibility at a majority of corn and soybean regular shipping stations on the Illinois River. Such shipping stations are unable to load due to high water levels and/or flooding."
The full report can be found in a pdf force majeure announcement from CME group.
July 10, 2015
The Chicago Board of Trade on Thursday lifted its force majeure on most of the shipping stations on the Illinois River, a move that will restart the loading of barges at facilities that handle deliveries of corn and soybeans for the CBOT.
June 17, 2015
Corn and soybean shipping stations on the Illinois River are now under force majeure as high water or flooding has prevented loading, CME Group said Wednesday.
According to a CME update, a "majority" of corn and soy shipping stations on the river were having difficulty loading because of high water levels or flooding.
Continued reading: Weekly Grain Movement 8/3: Farmers halt sales with corn under $4