The United Soybean Board is providing $2 million in funding to support research and education on dredging and channel improvements on the Mississippi River near the Port of New Orleans. The project calls for lowering the River from 45 feet to 50 feet. Soy Transportation Coalition Executive Director Mike Steenhoek says the site of the dredging is the most important launching port for soybean exports.

He says by being able to use larger ships, it decreases the per bushel price of soybeans to America’s customers and improves the competitiveness for U.S. agriculture. Steenhoek says that will also help improve basis for soybean and corn producers.

Steenhoek says it’ll take between 6 and 7 years to complete the project which has a total cost of $245 million. He says the USB’s contribution ensures the project can get started.

The American Soybean Association, Soy Transportation Coalition and several state soybean groups are also helping with the funding for the research.