News

U.S. soy farmer recaps tour of Panama Canal

A group of U.S. soybean farmers recently got a firsthand look at the shipping backlog along the Panama Canal.

Philip Good, a farmer-director on the United Soybean Board and a soybean farmer from Macon, Mississippi, says the drought situation in Panama hasn’t improved.

“Panama is in a period right now of dryness and lack of rain, therefore, the number of ships going through the canal are affected.”

He tells Brownfield freight costs have increased because of rerouted ships.

“When there is a shortage of rain in Panama, it affects the amount of ships going through, and therefore the rate,” he said. “That impacts transportation costs of U.S. soybeans going to all parts of the world.”

Good says the tour was part of USB’s “See for Yourself” trade mission program.