Marshall-Putnam Farm Bureau to host IWW Consolidated Closure Meeting on July 25

The U.S. Army Corps of Engineers has been coordinating temporary closures of six locks on the Illinois Waterway. There will be short closure to locks in 2019 followed by two extended closures in 2020 and 2023. Closures of the locks will completely shut down the Illinois Waterway during that time.

Meetings will be held to assist producers. Marshall-Putnam Farm Bureau will host a meeting on Thursday, July 25 at 8:30 a.m. at its building in Henry. If interested in attending, RSVP to the office by calling (309)364-2501 by July 19.

Speakers from the U.S. Army Corps of Engineers, Growmark, Illinois Farm Bureau and University of Illinois will present on the following topics:

Timeline and Work - USACE:

Work to be done is general maintenance. These locks are all approaching 80-90 years old. These locks were built with a 50-year lifespan and have well exceeded that lifespan without major maintenance. The major maintenance is expected to increase the lifespan another 25 years.

Transportation Modes - Growmark:

During a 4-month span of the consolidated closures, the Illinois Waterway System averages about 13.3 million tons of cargo to pass through the locks systems. That amount carried by truck would take 533,000 trucks. If carried all by rail, it would take 121,000 rail cars. This segment will discuss what the industry is doing to prepare for those transportation shifts and what producers can expect.

Marketing - Illinois Farm Bureau & University of Illinois:

With a complete cease in river transportation, marketing is one of the biggest aspects that producers need to sit down and work on. Where will increases in basis spreads occur and how far will they reach? How will crop storage be impacted, allocated, accommodated? What is the impact on futures contracts expirations? Impact on delivery against futures contracts, convergence, effectiveness of hedges etc.?

If you are not able to attend the July 25 meeting in Henry, other dates available are as follows:

7/12/19 at 9:00 a.m. -    Fulton County Farm Bureau

7/26/19 at 10:00 a.m. - Cass-Morgan Farm Bureau

8/5/19 at 10:00 a.m. -    Kendall-Grundy Farm Bureau

8/6/19 at 10:00 a.m. -    Peoria County Farm Bureau