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Transporting U.S. Wheat, Corn, and Soybeans in Export Channels

Author

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  • Hutchinson, T. Q.

Abstract

Excerpts from the report: The volume of U.S. agricultural exports has been trending upward since 1950. U.S. agricultural exports in 1965 represented 23 percent of the value of all U.S. exports. Wheat accounted for more than a sixth of the value of agricultural exports from the United States in 1965; while corn and soybeans jointly accounted for nearly a fourth. Together, these 3 products made up more than two-fifths of the total value of U.S. agricultural exports and nearly a tenth of the value of all U.S. exports in this period. More than two-fifths of the volume of all wheat and more than half of all corn moving in world trade during 1963-65 originated in the United States. The long-term outlook for voyage charter rates is favorable to U.S. exporters. Although European, Asian, and possibly African demand for U.S. farm products probably will increase, foreign flag rates may fall. Causing this fall will be an influx of shipping tonnage now under construction in foreign shipyards. While it is very unlikely that much grain will move in the newly constructed vessels, their entry into the market is likely to increase the total supply of shipping sufficiently to bring about downward pressure on ocean freight rates for grain.

Suggested Citation

  • Hutchinson, T. Q., 1966. "Transporting U.S. Wheat, Corn, and Soybeans in Export Channels," Miscellaneous Publications 320881, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uersmp:320881
    DOI: 10.22004/ag.econ.320881
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