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Forging Ahead
There’s no doubt that the barge industry has experienced its share of effects not only from the virus directly, but from the demand drops for various commodities. But as Jennifer Carpenter, CEO of The American Waterways Operators, told
The Waterways Journal, “We largely stayed on track despite COVID.” Large, multi-vessel barge companies are complying with Subchapter M certification deadlines despite difficulties; some smaller, single-vessel companies are a bit behind. “Subchapter M continues to be an important focus of our industry. We are working hard to make sure that all vessels are certificated,” she said.
On mariner credentialing, which has been made slower and more difficult by COVID-19, “The Coast Guard has been very proactive,” Carpenter said, in working with mariners and extending deadlines to ensure that mariners are not penalized or forced to quit working because of COVID-related delays at processing centers.
In the Dec. 10 World Agricultural Supply and Demand Estimates, the U.S. Department of Agriculture upwardly revised price estimates for both corn and soybeans and lowered estimates for U.S. production and ending stocks.
Arlan Suderman, chief commodities economist at StoneX Group Inc., said that while there were few changes to the latest WASDE, those changes âspoke volumes.â Ending stocks were already the second tightest on record for soybeans as 15 million bushels of production were shaved from the crush estimates. Soybean prices reached $10.55 a bushel, the highest since 2013.
The January WASDE will give final numbers for the year.
Soy, corn exports to China up