DOT Says Grain Export Shipping on Upswing in Great Lakes St. Lawrence Seaway Ports
U.S. Transportation Secretary LaHood announced a sharp rise in grain exports through the St. Lawrence Seaway in 2010. With an increase of nearly 23% through October over 2009 levels, nearly 1.9 million metric tons of U.S. grain have moved through the waterway this year. Overall, St. Lawrence Seaway traffic is up 17% in 2010 compared to 2009.
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This increase is partly attributed to Russia’s ban on grain exports that began in August due to drought conditions. Russia has announced keeping the ban in place through the end of this year. As a result, markets in Europe and North Africa have looked to North American grain farmers to satisfy their demand for grain. Furthermore, the U.S. has produced bumper grain crops this season that have been harvested earlier than in past years