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The USDA Grain Transportation Report for the week ending March 11 shows the US average diesel price fell 1.8 cents to $4.004 per gallon, down 10.5 cents since mid-February. The Panama Canal will raise Panamax daily transit slots from 17 to 20 by March 25, while bulk grain vessels continue avoiding both the Panama and Suez canals.
Lower diesel costs ease US inland and export freight, while continued Cape of Good Hope routing keeps ocean freight to Asia elevated, supporting US Gulf grain basis and FOB competitiveness.
doi.orgMar 14, 2024After 18 past bearish logistics events, ULSD / 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.
