The recovery is continuing on the Lower Mississippi River in the aftermath of Hurricane Ida. River traffic is slowly opening up. Export loadings remain light which is likely influencing basis levels on the river system. “It is an important reminder that what happens down there impacts up here where soybeans and grain are grown.” Soy Transportation Coalition Executive Director Mike Steenhoek says a proposed rail merger is the other big story impacting agriculture. The Surface Transportation Board rejected a move by Canadian National Railway to take over the Kansas City Southern. That has reopened the door for Canadian Pacific and its bid for Kansas City Southern. “Overall, among grain shippers I have heard fewer alarm bells sounded or red flags raised with the Canadian Pacific proposal versus the Canadian National proposal. Canadian National is a much larger company and there is concern that it could result in a less competitive environment for soybeans and grain shippers via rail.”
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