Imagine losing $3 million from your bottom line because something didn’t arrive on time. This is exactly what happened to a feed company in Thailand when a shipment of soybeans didn’t arrive in the time frame promised. The company was forced to source soybeans from the domestic market and had to pay the difference in
As a U.S soybean farmer, you likely know that your biggest rivalry in the international marketplace comes from the South American behemoth, Brazil, which edged out the United States as the top exporter of soybeans last year. But how much do you really know about your counterparts in the southern hemisphere? Phil Corzine could tell
As demand for soy grows along with the world’s population, competition for that burgeoning market grows, too. Today, as U.S. soy enjoys historic demand all over the world, it also must fend off rising competition for share of the market. Competition is everywhere. U.S. soy is competing against other countries, other feed sources and other
Union Pacific reclaimed its position as the top-performing railroad, followed by Norfolk Southern Railway, in the Soy Transportation Coalition’s (STC’s) fifth annual Railroad Report Card, a survey of agricultural shippers based on the railroads’ on-time performance, customer service and cost. Survey respondents ranked Canadian Pacific in last place for the fourth year in a row.
How the U.S. transportation system affects your bottom line Mike Appert is enjoying one the best harvests he’s ever had. But his excitement doesn’t last long because he knows he’ll get much less for this crop than he could have in previous years. On top of soybean prices sitting at four-year lows, his basis will
As harvest becomes more of a reality than a plan, some farmers are asking, “Where to next?” Farmers are taking a look beyond their fields and their elevator to know where their soybeans are headed and how they get there. Containerized shipping is one option. Containerized shipping uses standard shipping containers that can be loaded
Channel, harbor, port, and lock-and-dam improvements are expected as a result of the recently signed Water Resources Reform and Development Act (WRRDA). These structural upgrades are a critical step in enabling U.S. soybean farmers to take full advantage of an expansion to the Panama Canal, expected to be complete next year. Larger ships will be
The Panama Canal is critical for U.S. soybean exports because the canal serves as a shortcut between Gulf of Mexico ports, where many U.S. soybeans get loaded onto ships, and important export customers in Asia. An ongoing expansion of the canal, scheduled to be complete in 2015, could make soybean exports even more cost-efficient and
Rail transportation of soybeans by the numbers Our nation’s freight-rail industry provides efficient and reliable transportation between areas of soybean production and areas of consumption. Whether for livestock production in the southwestern United States or for export via the Pacific Northwest, railroads often provide the long-haul movement that allows the soybean industry to be profitable.
Water transportation of soybeans by the numbers For much of the key soybean-growing regions of the country, barge transportation is the most economical and efficient mode for transporting soybeans to export terminals. The Mississippi Gulf region accounts for 58 percent of U.S. soybean exports. Approximately 89 percent of soybeans exported from that region arrive via