AFBF Applauds Final Passage of Ocean Shipping Reform Act

American Farm Bureau Federation President Zippy Duvall commented today on final congressional passage of the Ocean Shipping Reform Act.

“AFBF appreciates lawmakers for working together to pass the Ocean Shipping Reform Act. Record-high shipping costs and delayed access to containers have worsened supply chain issues and limited exports at a time when the world is calling on America’s farmers to meet growing demand. Some estimates suggest we’ve lost out on more than $25 billion in agricultural exports over the past six months because of ocean shipping constraints. That’s unacceptable. Limited trade has also made it more difficult to import supplies like fertilizer, which increases costs to farmers and ultimately hurts all families through higher grocery bills.

USDA raised corn and soybean yield estimates above trade expectations, sending grain futures sharply lower. Ahead of National School Lunch Week, one Iowa district shows how local farms and food hubs are helping supply school cafeterias — and the costs and logistics involved. Naomi Blohm and Ted Seifried break down the report and what it means for grain markets.