Soybean growers could take a hit this year if port fees are added to Chinese-built ships, Senator Chuck Grassley warns.
“Right now, our lower shipping costs make Ag products like Iowa corn and soybeans competitive with Brazilian corn and beans. If a maximum fee were put in place, our farmers would lose their edge and cede even more market share to competitors in South America.”
Grassley says he hopes U.S. Trade Rep Jamieson Greer takes farmer concerns seriously as they decide the next steps. Some groups say smaller ports would suffer under the deal, possibly putting the supply chain in jeopardy.
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Lower shipping costs alone will not restore export competitiveness.
Rising fuel costs will soon increase grain transportation expenses.
The USDA’s upcoming reports will drop on Tuesday afternoon, giving the trade real results on acreage shifts, drought concerns, and ongoing trade tensions, adding uncertainty for U.S. farmers.
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Expanded access could boost demand for U.S. exports.
