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On April 30, 2024, the Surface Transportation Board issued a final rule on reciprocal switching for inadequate service, ending a proceeding that spanned more than a decade. The rule lets shippers served by a single Class I railroad petition for railcars to be transferred to a competing carrier at an interchange point.
The rule takes effect 120 days after Federal Register publication.
Greater rail competition could lower rates and improve service for grain shippers in single-railroad areas, easing freight costs for feed buyers over time. The effect on near-term prices is limited because implementation is months away.
doi.orgMay 2, 2024Not enough comparable past events yet for a historical read.
After 1,623 past policy events, CORN moved a median +0.1% over 5 sessions (51% higher; middle half -1.4% to +1.5%), and +0.4% over 20.
After 1,905 past policy events, SOY moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.8%), and +0.2% over 20.
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.
