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The AMS Grain Transportation Report, released April 23, showed bulk ocean freight rates in Q1 2026 running above year-ago levels despite typical seasonal softness. Gulf to Japan averaged $54.93/t, up 19% year over year, and Pacific Northwest to Japan averaged $30.68/t, up 14%.
Rising bunker fuel costs tied to the Middle East conflict added upward pressure.
Higher freight adds to the landed and export cost of US grain and meal, which can widen export basis and weigh on competitiveness against Black Sea and South American origins.
feedandgrain.comFeed, Grain StaffApr 24, 2026Not 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.
