USG export season ready to start, despite Miss River logistic issues

USDA reports show American soybean sales have hit a 3-year seasonal high, with US Gulf and North Pacific ports becoming the cheapest sources for China.

A chart showing the evolution of US soybean sales from January to December, comparing data from 2022, 2023, and 2024, with each year represented by different colours from the IFCHOR GALBRAITHS colour palette. Additionally, a grey-shaded area represents the 5-year range of variation.

Meanwhile, 47% of the US soybean crop is harvested, marking the fastest pace since 2022. However, low water levels on the Mississippi River in Illinois, a major soybean state, have caused barge rates to surge 77% in two months, matching last year’s record prices.

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