By MICHELE F. MIHALJEVICH

Indiana Correspondent

CHICAGO, Ill. — Shipping conditions for corn have improved along the Illinois River, allowing the parent group of the Chicago Board of Trade (CBOT) to end the force majeure it declared on Feb. 22.

In making its initial announcement, CME Group said the move was necessary because regular corn shipping stations along the river were unable to load due to high water levels and/or flooding. The end of the force majeure was announced March 6.

“The Illinois River currently allows for a majority of Exchange-approved regular corn shipping stations to load barges,” CME stated. “Shipping stations that remain unable to load must arrange for water conveyance to be loaded at another regular shipping station” as explained in CBOT rules.

Under those rules, shippers should load at the shipping station designated on the shipping certificate. If loading at the designated station becomes impossible for three consecutive days due to circumstances beyond the control of the shipping station, the shipper may opt to load at another regular shipping station.

A force majeure – a legal term deriving from French meaning “superior force” – is any circumstance “which is beyond the control of the buyer or seller and precludes either party from making or taking delivery of a product or precludes the Exchange from determining a final settlement as provided for in Exchange rules,” according to the CBOT rule book.

A similar force majeure declared on Feb. 27 for wheat shipping stations along the Ohio River was lifted on Monday afternoon.