The window is shutting quickly for South American exporters. With the southern U.S. harvest well underway, further import purchases are unlikely. Before the ships can make the two- to three-week sail from South American ports to the United States, cheaper new-crop prices will begin setting in.
Some yet-to-arrive cargoes will help bridge the gap to new-crop supplies.
The vessel Pos Aragonit is currently steaming toward the Port of Wilmington after loading grain in southern Brazil. The vessel Trans Pacific is at anchor off the Brazilian port of Paranagua and is scheduled to arrive at Wilmington by October.
Opportunity will dry up quickly for northbound shipments on the Mississippi River too. Once the Midwest harvest is in full swing, the agricultural industry will resume buying local corn.
“We’re trying to bridge the gap,” Baker said.
Read Latest Breaking News from Newsmax.com http://www.newsmax.com/Economy/farm-economy-drought-america/2013/08/19/id/521067#ixzz2cRdBiT8a