# Grain Transportation Report, November 2, 2023

> The Panama Canal Authority will cut daily vessel transits to 25 starting November 3, falling to 18 by February 2024 because of record-low rainfall and low Gatún Lake levels. US diesel prices fell 9.1 cents per gallon in the week ending October 30 to an average of $4.454.

- Date: 2023-11-02 · published 2023-11-02T12:00:00.000Z
- Category: logistics · region US · magnitude medium
- Page: https://feedsoft.ai/events/14801-grain-transportation-report-november-2-2023
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Reduced Panama Canal capacity during the US harvest raises ocean freight costs and may divert US Gulf grain exports to longer routes, which lowers net returns for US exporters. Lower diesel prices reduce farm and freight costs.

## Read by commodity

- DIESEL: bearish ▼
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DIESEL | 2023-11-30 | [Grain Transportation Report, November 30, 2023](https://feedsoft.ai/events/33061-grain-transportation-report-november-30-2023.md) | -10.9% | -12.3% |
| DIESEL | 2022-12-22 | [Grain Transportation Report, December 22, 2022](https://feedsoft.ai/events/8473-grain-transportation-report-december-22-2022.md) | +5.4% | +13.3% |
| DIESEL | 2024-09-12 | [Grain Transportation Report, September 12, 2024](https://feedsoft.ai/events/16506-grain-transportation-report-september-12-2024.md) | +2.4% | +9.1% |
| DIESEL | 2024-03-14 | [Grain Transportation Report, March 14, 2024](https://feedsoft.ai/events/31091-grain-transportation-report-march-14-2024.md) | -0.1% | -1.2% |
| DIESEL | 2025-08-21 | [Grain Transportation Report, August 21, 2025](https://feedsoft.ai/events/16433-grain-transportation-report-august-21-2025.md) | +0.4% | +2.7% |

## Sources

- doi.org: https://doi.org/10.9752/ts056.11-02-2023

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.