Loading…
Lars Jensen of Vespucci Maritime warned U.S. agricultural exporters that container spot rates have surged since December, with Shanghai to New York rising from about $2,500 to nearly $6,000. He cited Red Sea diversions, Asian port congestion, a possible Canadian rail strike and U.S. longshore labor talks as ongoing pressures.
Higher container and vessel costs raise the landed cost of U.S. agricultural exports and tighten vessel capacity, supporting higher ocean freight prices and risking export competitiveness for feed grains and meals.
rbtus.comStasMay 29, 2024Not 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.
