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Port of Duluth-Superior finished its longest navigation season on record. Average secondary railcar bids were $79 per car above tariff for January shuttle loading, and barged grain movements totaled 390,050 tons for the week ending January 6.
US average diesel fell 4.8 cents to $3.828 per gallon, 72.1 cents below a year earlier.
Lower diesel costs and steady barge and rail movements ease freight expenses for grain shipments, a mildly bearish factor for delivered feed grain costs.
doi.orgJan 11, 2024After 284 past neutral logistics events, CORN moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.4%), and -0.2% over 20.
After 230 past neutral logistics events, SOY moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.0%), and +0.1% over 20.
After 18 past bearish logistics events, DIESEL moved a median +0.6% over 5 sessions (56% higher; middle half -1.5% to +3.3%), 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.
