soybeans
Midwest soybean farmers to help pay for Pacific Northwest export terminal
Several U.S. soybean producer groups are planning to help fund the construction of a Pacific Northwest terminal that would be used to ship soybean meal exports.
The Iowa Soybean Association, the Kansas Soybean Commission, the Nebraska Soybean Board, the North Dakota Soybean Council, the South Dakota Soybean Research and Promotion Council and the Soy Transportation Coalition say will they collectively provide $900,000 toward pre-engineering, design and site development costs for AG Processing’s...
SAL MARKETWATCH: dry bulk shipping sector rallies, providing relief to owners and operators
Photo credit: Marcus Dall via Unsplash.
Increasing demand for the carriage of dry bulk overtakes shipping supply in dry markets causing, as any armchair economist could predict, rising freight rates. But it’s not a super-surge by any means...
Only a few brave souls would have predicted a late-mid-year dry bulk rally – a time of year when dry bulk rates are historically weaker.
But here we are.
How China became the big winner of the COVID era
When news first broke of the COVID lockdown in Wuhan, the initial prediction was: The virus will cripple the economy of China, which is the engine of global trade, and that will be terrible for the shipping business.
Eighteen months and 3.9 million deaths later, the pandemic has had the opposite effect. Ships are full and, ironically, the country where the outbreak began is seeing the biggest and broadest economic upside.
Chinese exports are now much higher than they were before the outbreak,...
https://www.freightwaves.com/news/how-china-became-the-biggest-winner-of-the-covid-era
Floods drown south-central US crops
Rain continues to come and go through the south-central U.S., causing flooding and damaging crops.
Southeastern TexasDuring the February freezing rain storm and record cold snap, Texas farmers lost at least $600 million worth of crops, according to a report from Beaumont, Texas, station KBMT-TV. Now, farmers are having to clean up again after major rain has flooded many crops.
Related: Borderlands: Winter freeze could devastate Texas citrus industry
Some areas like Beaumont-Port Arthur have seen...
https://www.freightwaves.com/news/floods-drown-south-central-us-crops
Vessel traffic flowing again on Mississippi River under I-40
The Coast Guard reopened the Mississippi River to all vessel traffic near Memphis Friday morning. The shutdown of a part of the waterway had disrupted shipments of corn, soybeans and other commodities, causing a backlog of more than 1,000 barges.
Traffic was stopped Tuesday after transportation officials found of a beam fracture in the Interstate 40 bridge (Hernando DeSoto Bridge) that connects Arkansas and Tennessee.
Related: Crack in I-40 bridge shuts down traffic between Tennessee, Arkansas
“Bas...
https://s29755.pcdn.co/news/vessel-traffic-flowing-again-on-mississippi-river-under-i-40
The Stockout: Cargill puts its money where its beans are
Cargill’s announcement last week that it is making a nearly half-billion dollar investment in soybeans caught my attention because it suggests that one of the world’s largest food producers believes that soybeans are poised for sustainable growth and the recent price appreciation and surge in production are not just the result of transient trends. It’s clear to me that growing food segments, such as soy-based dairy alternatives and plant-based meat alternatives, are considered sustainable...
https://www.freightwaves.com/news/the-stockout-cargill-puts-its-money-where-its-beans-are
More wheat to go west this spring: USDA
Changing volume projections for U.S. wheat exports could be reflected in freight flows this spring, with more volumes going toward the western ports and fewer volumes going to the Gulf Coast, according to recent reports from the U.S. Department of Agriculture (USDA).
USDA’s World Agricultural Supply and Demand Estimates (WASDE), a monthly report that estimates the production, storage and export volumes of various agricultural commodities, adjusted its projections for U.S. soft white wheat...
https://s29755.pcdn.co/news/more-wheat-to-go-west-this-spring-usda
FMC investigates possible law-breaking by carriers as agricultural exports suffer
The US Federal Maritime Commission (FMC) is renewing its focus on container availability levels for the country’s agricultural exporters.
Speaking yesterday at the Global Maritime Conference, FMC chairman Michael Khouri said the organisation was looking into whether reports that some carriers are refusing to allow empty containers into the US hinterland, preferring to send them directly back to Asia.
“Some ocean carriers – not all – have stated that they will no …
The post FMC investigates...
Ag retailers: Zero-emission truck plan could ‘devastate’ agriculture
An environmental policy promoted by Democratic lawmakers to effectively ban internal combustion engines (ICEs) for heavy-duty trucks by 2040 would be a major economic blow to agribusiness by causing dramatic decreases in ethanol, biodiesel and corn prices, according to a new report.
“Economic Impacts to U.S. Biofuels, Agriculture, and the Economy from Subsidized Electric Vehicle Penetration,” commissioned by the Agricultural Retailers Association (ARA), responds to strategies included in a...
https://s29755.pcdn.co/news/ag-retailers-zero-emission-truck-plan-could-devastate-agriculture