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Aug 28, 2014
At the Surface Transportation Board hearing on rail issues in Fargo, N.D. next week, ASA Director Lance Peterson will testify for ASA and Minnesota Soybean Growers Association on the need to move grain out ahead of and during a big harvest. His testimony is an update on the testimony he delivered earlier this spring in Washington to the STB. The North Dakota Soybean Growers Association also will testify.
The backlog of rail cars to move grain out of the upper Midwest continues, leaving many elevators still full of 2013-crop grain ahead of a looming 2014 harvest. The backlog is negatively affecting basis levels and cash bids, and is likely to create a real grain storage crisis once new crop harvest begins, further impacting producers.
