U.S. grain exports slumped to their lowest level in years last week as shippers struggled to restart loading operations along the Louisiana Gulf Coast after Hurricane Ida flooded and damaged grain terminals and knocked out power across the region, preliminary data showed on Monday.
According to a report at Yahoo News, Weekly U.S. Department of Agriculture (USDA) grain inspections data, an early indicator of shipments abroad, showed the volume of corn weighed and certified for export last week was the lowest in 8 1/2 years as no grain was inspected along the Louisiana Gulf Coast, the busiest outlet for U.S. crops.
Soybean inspections were up only slightly from the prior week's seven-year low as only a single large bulk grain ship bound for top importer China was loaded last week in the Pacific Northwest and none at the Gulf, USDA data showed.
More than 50 bulk vessels were lined up along the lower Mississippi River on Monday waiting to dock and load with grain once terminals reopen, and only a handful of ships had moved over the weekend, according to an industry vessel lineup report and Refinitiv Eikon shipping data.
Read the full report here.