The transportation disruptions on the Red Sea continue to make headlines. NDSU Extension Crops Economist Frayne Olson sees an impact on the grain markets. “It’s not going to impact us directly because we don’t ship a lot of grain through those channels, but it is starting to increase freight rates in general.” This action on the other side of the world could enhance exports out of the Pacific Northwest. “As freight rates go up, because it is a shorter haul and faster shipping time the product out of the PNW has a shipping advantage.” U.S. commodities are typically priced higher than its competitors, but Olson said the U.S. has a reputation as a very reliable supplier.
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