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JimMeade
Veteran Advisor

Ocean Freight Rates Hurting Ag Exports

http://www.agupdate.com/news/national/shipping-costs-are-surging-globally-squeezing-grain-traders/ar...

 

This story says China is importing so many raw materials that they are driving up the cost of ocean freight to the point where it is affecting the cost of ag products.  That can have the effect of making nearby producers more attractive in price than those with big freight bills.

 

This on top of the Mississippi river levels and lack of rain which could affect barge rates, although it is way to early to panic on that, as we could get some good moisture by the time the locks open in the spring.

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