The Board of Trade of Chicago, Inc. (CBOT or Exchange) is advising that the Army Corps of Engineers has announced that the Thomas J. (T.J.) O’Brien Lock & Dam (O’Brien Lock) will be closed from November 3, 2014 to December 19, 2014 (47 Days) and again from January 5, 2015 to February 20, 2015 (47 Days) for maintenance on the lower and upper sector gates:
Downriver barge shipments of Corn, Soybeans, Oats and Wheat from regular facilities in Chicago and Burns Harbor typically traverse the O’Brien Lock. CBOT Rule 703.C.G.(9) specifies contingency barge load-out procedures when a river obstruction affects a majority of upriver regular facilities. Since the two 47-day closings of the O’Brien Lock do not affect a majority of Corn, Soybean, Oat, or Wheat regular facilities, the contingencies in Rule 703.C.G.(9) will not apply.
Please note that the Coast Guard has proposed an alternative to allow barges to transit an alternate route on a portion of Lake Michigan due to these temporary closures of the O’Brien Lock, which will allow holders of Corn, Soybean, Oat, and Wheat shipping certificates to still load-out commodity via barge at Chicago and Burns Harbor regular facilities.
Please note that Chicago and Burns Harbor shipping certificates related to these products may also be loaded-out via rail or vessel.
Questions may be directed to Fred Seamon (312-634-1587 or Fred.Seamon@CMEGroup.com).