Soybean Farmers Hopeful $461 Million Buried at Bottom of Mississippi River

 Almost half a billion dollars is buried at the bottom of the Mississippi River, and the U.S. soybean industry is confident the vast sum is waiting at a depth of 50’. A massive effort is underway to dredge the lower Mississippi along its final 250-mile stretch, and the results could provide major financial benefits to American farmers.

At ports along the mouth of the Mississippi, most ships loading soybeans can presently carry a maximum of 2.4 million bushels, and any additional weight in the hold puts the vessels in danger of scraping the riverbed. However, a mere extra 5’ in depth allows a ship to squeeze in 2.9 million bushels, and gain greater carrying power, at a marginal increase in transport costs to the vessel. Translation: Digging the depth of the lower Mississippi from 45’ to 50’ could generate an extra $461 million annually for the U.S. soybean industry—independent of supply and demand, and strictly based on efficiency of transport...MORE