{"id":10699,"date":"2014-07-07T14:04:44","date_gmt":"2014-07-07T19:04:44","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=10699"},"modified":"2014-07-07T14:04:44","modified_gmt":"2014-07-07T19:04:44","slug":"100-years-on-panama-canal-still-vital-to-ag-economy","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/100-years-on-panama-canal-still-vital-to-ag-economy\/","title":{"rendered":"100 years on, Panama Canal still vital to ag economy"},"content":{"rendered":"<p><a href=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2014\/07\/container-ship1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-10701\" title=\"container ship\" src=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2014\/07\/container-ship1.jpg\" alt=\"\" width=\"782\" height=\"440\" srcset=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2014\/07\/container-ship1.jpg 1000w, https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2014\/07\/container-ship1-300x168.jpg 300w\" sizes=\"auto, (max-width: 782px) 100vw, 782px\" \/><\/a><\/p>\n<p>For the last century, the Panama Canal has connected the U.S. to  the world. For Midwest farmers, it opened their harvest to global  markets. As the canal turns 100 years old this summer, many are thinking  about both\u00a0the canal\u2019s past, and its future.<\/p>\n<p>When it opened in 1914, the Panama Canal introduced the harvest from  Midwest farms to the world and helped link U.S. farmers to the global  economy. Nearly a century-old, the canal today remains an important  connector of global trade, from the U.S. heartland to Asia.<\/p>\n<p>\u201cObviously  it\u2019s one of our major achievements,\u201d said Bill Angrick, a former state  Ombudsman of Iowa who was born in the Canal Zone and has studied the  engineering marvel. \u201cIt\u2019s like going to the moon. It\u2019s something we did  well and did right.\u201d<\/p>\n<p>But as international trade surged and modern  ships got too big for the waterway, the Panama Canal became a  bottleneck. A massive expansion to meet the demand of the 21st Century  is set to open as soon as early 2015.<\/p>\n<p>From the fruit we eat to the farm products we export, Midwesterners will be rewarded.<\/p>\n<div>\n<p><a href=\"http:\/\/www.netnebraska.org\/sites\/default\/files\/styles\/largepopup\/public\/061614_panama-canal-Steenoek.jpg?itok=_WtGS8n-\"><img decoding=\"async\" src=\"http:\/\/www.netnebraska.org\/sites\/default\/files\/styles\/preview-colorbox-in-body\/public\/061614_panama-canal-Steenoek.jpg?itok=ypbbIzFi\" alt=\"\" \/><\/a><\/p>\n<p>Director  of the Soy Transportation Coalition Mike Steenhoek, says the canal is a  vital shipping lane for Midwest agricultural products. (Photo by Rick  Fredericksen for Harvest Public Media)<\/p>\n<\/div>\n<p>\u201cI think it will keep  prices in check,\u201d said Chris Schrage, the global business opportunities  coordinator at the University of Northern Iowa. \u201cBananas, all the grapes  from Chile \u2013 all of those things can be moved in faster to us and have  less chance of spoilage and wastage for the suppliers and intermediaries  in the supply chain.\u201d<\/p>\n<p>The primary impact for exporters will be on  trade between the world\u2019s largest economies: the U.S. and China, as well  as the rest of Asia. The export market is becoming more and more  important to U.S. farmers, who exported more than $140 billion worth of  product overseas each year for the last two years.<\/p>\n<p>\u201c600 million  bushels of soybeans went through the Panama Canal last year and that\u2019s  the No. 1 U.S. agricultural product that utilizes the canal,\u201d said Mike  Steenhoek, director of the Soy Transportation Coalition.<\/p>\n<p>Some  American farmers stand to benefit from the canal\u2019s expansion, too. New  supertanker ships can accommodate an additional half-million bushels of  soybeans, saving time and money for buyers, and a larger canal means  that more supertankers can travel through.<\/p>\n<p>\u201cIt could save 35 cents  per bushel of soybeans to our ultimate customer, say in Asia,\u201d  Steenhoek said. \u201cSo 35 cents per bushel of soybeans passed on to the  customer \u2013 that\u2019s really going to help us remain competitive.\u201d<\/p>\n<p>The  improved 50-mile long canal will herald two-way traffic and 24-hour  service. But an expanded Panama Canal won\u2019t solve every export issue. Many ag groups hope new legislation will green light upgrades to the aging lock and dam system Midwest rivers, and many farmers, depend on.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>For the last century, the Panama Canal has connected the U.S. to the world. For Midwest farmers, it<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-10699","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>100 years on, Panama Canal still vital to ag economy - Blog and Newsletter<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/100-years-on-panama-canal-still-vital-to-ag-economy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"100 years on, Panama Canal still vital to ag economy\" \/>\n<meta property=\"og:description\" content=\"For the last century, the Panama Canal has connected the U.S. to the world. 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