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Ocean freight rates for grain rose through the third quarter of 2020 as the bulk market recovered from the COVID-19 slowdown. For the week ending October 8, the U.S. Gulf to Japan grain rate was $43.25 per metric ton, 16% below the same week last year.
Ocean freight costs feed into the delivered price of U.S. grain exports, and rates that are lower year over year reduce that cost burden for export buyers.
doi.orgOct 15, 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.
