The shipping industry expects the Longshoremen’s Association to ratify their new contract this week, putting an end to months of uncertainty for farmers looking to move their grain.
“Hopefully, by the end of February, early March, there will be a new six-year contract, which, again, that’s very important to us, because that provides predictability, additional predictability when it comes to our supply chain,” said Soy Transportation Coalition’s Mike Steenhoek.
That vote could come as soon as tomorrow. Steenhoek expects both parties to pass the contract, which will be in effect until 2030.
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Fertilizer still consumes an unusually large share of crop value.
