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USDA data show freight accounted for 35 to 39 percent of Q1 landed costs for Kansas and North Dakota wheat to Japan. Ocean freight rose 14% through the Pacific Northwest and 19% through the Gulf year over year on higher bunker costs and strong Asian shipping demand.
Lower farm values kept total landed costs below last year on all routes.
Rising ocean freight narrows US wheat's price advantage in Japan despite firm import demand projections. That can cap export sales and weigh on US wheat values relative to competing origins.
rfdtv.comTony St. JamesJun 3, 2026Not enough comparable past events yet for a historical read.
After 11 past bearish logistics events, Wheat (HRW) moved a median -0.3% over 5 sessions (45% higher; middle half -2.8% to +0.9%), and +0.4% 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.
