September 15, 2014
Grain from the 2013 crop is still in storage and upon the upcoming harvest, U.S. grain stocks are expected to exceed the capacity of permanent storage facilities by 694 million bushels, or 3.5% of the total harvest. South Dakota, Missouri, Indiana, and Illinois are the most affected states. The estimated crop overstock is enough to fill 174,000 jumbo rail cars making it critical to transport as much of the 2013 grain still in storage as possible. The situation is causing an increase to shipping costs which are currently running approximately 50% above the five-year average. To read more of what Arthur Neal of the U.S. Department of Agriculture told a Senate Commerce Committee on the U.S. rail situation:
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