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The USDA Grain Transportation Report for the week ending June 1 showed unshipped wheat, corn and soybean balances of 15.44 mmt, with Class I railroads originating 22,083 grain carloads, down 4% week over week. The Port of Baltimore's deep-draft channel was fully reopened to commercial traffic on June 10, with tug escorts now at pilot discretion.
Reopening Baltimore restores export capacity and eases freight bottlenecks, modestly supporting US export competitiveness and reducing upward pressure on barge and rail freight costs.
doi.orgJun 13, 2024Not enough comparable past events yet for a historical read.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% over 20.
After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.
