The United Soybean Board (USB) and the Soy Transportation Coalition recently celebrated the success of the checkoff?s infrastructure investment in research, planning, analysis, and design to help dredge the lower Mississippi River. Farmer-leaders presented Louisiana Governor John Bel Edwards a $2 million ceremonial check- an investment that will allow ships to carry more soybeans to export markets out of the United States. Philip Good, USB treasurer, said representatives from throughout the soy industry were in attendance.
?I was very excited to have the opportunity to attend the ceremony, which was hosted by Governor Edwards of Louisiana,? Good said. ?And he hosted farmers, United Soybean officers, Soybean Transportation Coalition and the Army Corps of Engineers were all present for the opportunity for us to present a check to them. So, that was a very exciting moment.?
Good said the Mississippi River is an important mechanism for soybean shipments for farmers ranging all the way from Minnesota to Louisiana.
?All of us soybean farmers know how important infrastructure is, whether it?s the roads ? we’ve seen what fuel costs can do to transportation,? Good said. ?We’ve seen even the rumors of strikes due to costs of transportation with railroads. We know what the depth of the Mississippi River has to do for the basis, the price that we receive as farmers. But it’s also important for the world and for the exports because we need to provide reliability when it comes to delivery and price for exports.?
Good added that the investment by the United Soybean Board will reduce shipping costs of soybeans.
?So, the $2 million investment that we, at the USB, were able to provide for research is able to turn from $2 million into a $461 million return, which just blows my mind,? Good said. ?And what that is able to do is provide ocean vessels the opportunity to load 500,000 more bushels per vessel. And that’s lowering the cost on that freight by 13 cents a bushel, which is just fantastic.?
For more information, visit unitedsoybean.org.
