Source: Growmark via AgPR.com
Although the oil disaster in the Gulf of Mexico has had relatively little impact on the Midwest up until now, many are monitoring to determine if grain exports could be disrupted.
"Currently 55 to 65 percent of the Midwest's grains — corn, beans and wheat — are exported per year through the Gulf of Mexico," John Cripe, director, Mid-Co Commodities, Inc., said.
There has been no evidence of price fluctuation or any problems exporting grains resulting from the oil spill. However, Cripe mentioned that ships exporting through the oil slicks in the Gulf of Mexico could eventually require routine cleaning due to oil build up on their hulls, adding to up-keep costs and possibly causing an influx in grain prices over time.