Did you know that over the past couple of years as much as 43 – 44% of soybeans grown in Illinois were exported? Efficient transportation systems and sound infrastructure ensure Illinois soybean farmers maintain a competitive advantage in the global marketplace. Learn the latest on transportation in this monthly update.
Transportation Update, June 2015
Slight Strengthening of Soybean Basis
Soybean basis levels have strengthened slightly at the end of May into early June, a reflection of the Center Gulf’s strong basis rate creeping up the Mississippi and Ohio Rivers. Southern Illinois farmers may note this basis change, but elsewhere state levels have remained unchanged in the zero to minus twenty cents per bushel range over the past thirty days.
Changes in basis are best viewed over a period of time. To see basis changes from July 2014 through early June 2015, click here.
Railroad Outstanding Car Orders Lower than in 2014
Weekly STB reports indicate Class I railroad outstanding car orders have remained low in 2015 compared to 2014. A geographical shift in outstanding orders has also occurred: 2014 shortages were located primarily in the Dakotas, Montana and Nebraska, but this year California, Arizona, Wisconsin and Minnesota are feeling the pinch.
Did you know Illinois is the only state in which all seven Class-I railroads* operate and that more than 7,000 miles of track connect farmers and elevators to domestic and international customers? Checkoff funds supported an in-depth study of rail performance during Harvest 2014. See the results here.
Tell us: What have been your experiences with rail lines this past year?
Data analysis is provided by Informa Economics.
*Class-I railroads are officially defined by the U.S. Surface Transportation Board as carriers with annual operating revenues of $467 million or more, adjusted annually for inflation using the base year of 1991.
About the Author: Illinois Soybean Association
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