Companies are putting money into shipping infrastructure along the St. Lawrence Seaway, and it could provide future export opportunities for soybean growers.
The Minnesota Soybean Research and Promotion Council says shipping improvements are happening between Deluth and Halifax, and they are looking forward to the extra opportunities the Port of Halifax would offer.
They tell Brownfield Ag News the biggest barrier is economics because it is currently cheaper to ship from other places, but they believe the Port of Halifax can become a hub for soybeans grown in the upper Midwest.
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While this adjustment is substantial in percentage terms, according to David Widmar with Agricultural Economic Insights—it is part of the natural ebb and flow of the agricultural economy.
