The Soy Transportation Coalition board of directors met in Central America and got a firsthand look at the drought’s impact on shipping. A total of 600 million bushels of soybeans traveled through the Panama Canal last year bound for Asian markets, but drought is now limiting daily movement through the system. STC Executive Director Mike Steenoek reports container ships were still moving through the canal. “What we did not see were dry bulk vessels, those are the ones that transport soybeans and grain,” said Steenhoek. Tolls are placed on ships based on their cargo. Consumer goods pay a higher rate, and therefore, take priority. Issues in the Red Sea region and low water levels on the Mississippi continue to cause supply chain issues as well.
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