Cargill Loads Soy in Texas After Ida Damages Louisiana Terminal
By Karl Plume, Maritime Logistics Professional
October 11, 2021
The first bulk U.S. soybean cargo from the Texas Gulf Coast in about six months was loaded and shipped last week from a Cargill Inc terminal, in a sign of shifting trade flows in the wake of Hurricane Ida, traders and shipping sources said.
The vessel Spar Rigel was loaded early last week with about 55,000 tonnes of soybeans at Cargill's Houston terminal, an outlet that typically loads mostly wheat and sorghum grown nearby, according to a shipping vessel lineup seen by Reuters.
The uncommon shipment is the first of several soybean cargoes expected to load at Cargill's Texas facility this autumn after one of the company's two terminals at the Louisiana Gulf Coast - the country's top outlet for corn and soy shipped down the Mississippi River - was severely damaged by Ida on Aug. 29.
Cargill faces a longer road to recovery than rival exporters including Bunge Ltd, Archer-Daniels-Midland Co and Louis Dreyfus Co and may face higher costs to reroute exports...