03-09-2021 Grain export terminals in US Gulf coast damaged after Hurricane Ida, Maersk Brokers Weekly Data Report
Hurricane Ida swept through the US Gulf Coast last week prompting reports by grain shippers of damaged export terminals. Global grains trader Cargill said a second terminal of theirs was damaged and across Louisiana all others were shuttered due to power outages. Ida has disrupted grain and soybean shipments from the Gulf Coast, which accounts for about 60% of US exports. The implications come at a time when global supplies are tight, and demand is strong from China.
Efforts to reopen the navigations channels are underway, but numerous barges and boats were sunk in the Mississippi River, obstructing passage. It is unsure when the situation will return to normal as downed power lines and low river levels are obstructing the clearance efforts. Cargill is still assessing how soon its grain loading and shipping operations will resume at the busiest grains port in the US. Rival exporters have diverted next month’s shipments to ports in the Pacific Northwest. Many terminals in the Gulf Coast are without power and will likely not see any for many weeks to come.