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Report: Rail Delays Cost Minnesota Farmers

Created: 07/10/2014 10:42 AM KAALtv.com

MINNEAPOLIS (AP) - A new report estimates that delays in railroad shipping have cost Minnesota corn, soybean and wheat farmers nearly $100 million.

The report was released Thursday at a conference in Alexandria organized by the Minnesota Department of Agriculture.

Edward Usset of the University of Minnesota Center for Farm Financial Management estimates rail delays cost Minnesota corn growers $72 million from March to May. He puts the losses at $18.8 million for soybean growers and $8.5 million for wheat growers.

The report also estimates the corn remaining in on-farm storage across Minnesota is worth $122 million less and the remaining hard red spring wheat is worth $1.7 million less because of rail bottlenecks.

Railroad delays across the region have been blamed on a combination of increased oil shipments and the hard winter.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Photo: ABC 6 News


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