The International Longshoremen’s Association and the United States Maritime Alliance have reached a tentative agreement to end the strike that has crippled East and Gulf Coasts ports. The labor contract between the two sides has been extended to January 15, 2025, which will enable all parties to return to the bargaining table to resolve their issues.

“It is a relief that a tentative agreement has been reached and the ports will be open for business once again. For U.S. farm products to flow smoothly to domestic and international markets, it is essential for all parts of the supply chain to be fully functioning. The shutdown of these vital shipping ports was already starting to create big problems for NGFA’s members and America’s farmers during harvest season. Left unresolved, this strike could have led to higher transportation costs for agricultural shippers and jeopardized valuable customer relationships. For the sake of rural America, we hope that the parties involved will work diligently between now and January 15 to find a long-term agreement that works for both sides and keeps our shipping channels open,” said Mike Seyfert, president and CEO of the National Grain and Feed Association (NGFA).

An ongoing strike halting containerized agriculture products would have significantly harmed agricultural trade. A recent American Farm Bureau Federation analysis concluded that $1.4 billion in weekly ag trade was at risk.

Approximately 46% of containerized agriculture exports depart from East Coast ports, including more than 6% of all soybean waterborne exports.