What would happen if a lengthy disruption befell the major mode of transportation of U.S. corn and soybeans? What ramifications would that have on U.S. producers and the national economy? How would that affect U.S. competitiveness in world grain markets?
USDA's Agricultural Marketing Service asked Edward Yu, associate professor at the University of Tennessee Institute of Agriculture Department of Agricultural and Resource Economics (AREC), to lead an economic analysis of the navigability on the UMR-IWW, which is crucial and timely to the U.S.
Estimated economic impacts from the study include: Aggregate economic activity related to grain barge transportation reduces by $933 million (or 40 percent decrease) if Lock 25 on the upper Mississippi River is closed from September to November during the 2024/25 marketing year.
Decline in economic surplus in the corn and soybean sector due to Lock 25 closure could cause a decrease of more than 7,000 jobs, $1.3 billion in labor income and about $2.4 billion of economic activity (total industry output) annually.
https://www.sciencedaily.com/releases/2016/11/161102155741.htm
USDA's Agricultural Marketing Service asked Edward Yu, associate professor at the University of Tennessee Institute of Agriculture Department of Agricultural and Resource Economics (AREC), to lead an economic analysis of the navigability on the UMR-IWW, which is crucial and timely to the U.S.
Estimated economic impacts from the study include: Aggregate economic activity related to grain barge transportation reduces by $933 million (or 40 percent decrease) if Lock 25 on the upper Mississippi River is closed from September to November during the 2024/25 marketing year.
Decline in economic surplus in the corn and soybean sector due to Lock 25 closure could cause a decrease of more than 7,000 jobs, $1.3 billion in labor income and about $2.4 billion of economic activity (total industry output) annually.
https://www.sciencedaily.com/releases/2016/11/161102155741.htm