Possible rail strike by the end of the week
The entire ag sector is watching to see what happens this week on the rails. Two major unions are holding out on contract negotiations.
The possibility of a rail strike this week is weighing on the agriculture sector.
10 out of the 12 rail labor unions have reached tentative agreements with carriers, but the top two are holding their ground. This comes during a time when fertilizer supply and prices may be an issue again.
The cooling-off period ends this Friday when all rail workers could begin to strike. The Association of American Railroads estimates a strike could cost the U.S. economy up to $2 billion per day with more than 7,000 trains sitting idle.