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China-to-US ocean rates have risen through six consecutive general rate increases since June 1, 2020. A seventh increase planned for mid-September would push East Coast rates near $4,500 per FEU, and regulators in China and the US are considering intervention.
Air cargo rates are also climbing as importers shift away from ocean delays.
Container freight pricing is driven by the imbalance between demand and capacity in the transpacific trade. It does not directly move grain or feed ingredient freight rates.
jmc-global.comAlex WellsSep 23, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
