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.
Related Stories
Reliance on vegetable imports remains uneven, with domestic production still anchoring several major categories.
StoneX’s Josh Linville discusses USDA’s efforts to boost domestic fertilizer production and his outlook on supply and prices.
Officials say the virus is not a food safety risk and does not affect humans
The Texas Department of Agriculture confirmed a New World Screwworm case about 119 miles from the Texas border, near Zapata, Texas, and north and west of the Rio Grande Valley.
Beef is leading the decline as slaughter drops and supplies tighten.
Ethanol demand held together last week, but lower production and thinner stocks put more focus on export strength. Production capacity is also strengthening over time and benefiting soybean farmers.
