US grain exports rise as Gulf Terminal slowly recovers from Aida

Texas News Today

FILE PHOTO: Damage to power lines and homes is seen after Hurricane “Ida” struck Grand Isle, Louisiana, USA on September 2, 2021. Reuters / Rear Millis // File photo

September 20, 2021

by Julie Ingvarson

(Reuters) – US grain exports rose last week, but far below normal, as ships along the Gulf Coast recovered from flooding and widespread power outages from Hurricane Ida’s landfall on August 29. , preliminary data was shown on Monday.

According to USDA data, only seven export vessels were loaded with grain and soybeans at the Louisiana Gulf Terminal during the week ending September 16, down from 23 in the same week last year. ..

Mr Ida crippled overseas grain shipments weeks before the start of the Midwest harvest and during the busiest time of US crop exports, raising export prices and raising global concerns about food inflation.

Weekly USDA grain inspection data, an early indicator of international shipments, showed the amount of corn weighed and approved for export last week was the lowest in eight and a half years, down from last week’s revised tally of 159,429 tons. This showed that it reached a certain 403,104 tonnes.

For soybean, the weekly export inspection reached 275,169 tonnes, up from the revised 193,429 tonnes last week.

The USDA said last week that 199,849 tons of corn and 150,272 tons of soybeans had been tested in the Gulf of Louisiana. The numbers have improved over the past week when grains were not tested for US crops at the busiest stores.

Still, for corn, the latest figures are down about 48% from last year’s test value of 768,084 tonnes. [USDA/I]

More than 60 bulk carriers lined the lower Mississippi River on Monday, waiting to dock and load grain when the terminal reopened, according to industry vessel lineup reports and Refinitiv Eikon shipping data.

Most of the roughly 12 large grain terminals scattered along the Mississippi River from Baton Rouge to the Gulf of Mexico survived the storm with minor damage, but the area’s devastated power grid prevented recovery.

Cargill said last week it had reopened its grain export terminal in Westwego, Louisiana. By that time, rivals Louis Dreyfs and Archer Daniels Midland had been loading export cargo for several days.

The Bunge Ltd.-owned facility in Destrahan, Louisiana, is “intermittently operating,” the company said Thursday, but CHS Inc. said the export terminal in Myrtle Grove, Louisiana, has higher US corn and soy yields. He said he hoped it would work. , usually peak in October.

(Reporting by Julie Ingvarson, additional reporting by Karl Plum, edited by Barbara Lewis)

source link US grain exports rise as Gulf Terminal slowly recovers from Aida

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