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USDA data showed U.S. Gulf corn and soybean transportation costs rose 22% quarter over quarter in Q3 2023, driven by a 104% jump in barge rates. Pacific Northwest route costs declined slightly over the same period.
Higher Gulf freight costs compress farm-gate values and shift export competitiveness toward PNW routes, which affects corn and soybean basis and feed grain delivered costs.
feedandgrain.comJan 8, 2024After 359 past bearish logistics events, CORN moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% over 20.
After 297 past bearish logistics events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.5% to +1.8%), and +0.7% 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.
