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The USDA Grain Transportation Report for July 11 notes container spot rates for US imports topped $7,472 per 40-foot box, driven by Asian port congestion. It also reports the US diesel average rose for four consecutive weeks to $3.865 per gallon.
Rising diesel and container freight costs raise the cost of moving feed ingredients and grain, supporting higher delivered prices for feed buyers.
doi.orgJul 11, 2024After 113 past bullish logistics events, DIESEL moved a median +0.6% over 5 sessions (54% higher; middle half -2.8% to +4.2%), and +0.2% over 20.
Not 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.
