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The USDA Grain Transportation Report for January 18, 2024 says Red Sea attacks have pushed most container ships around the southern tip of Africa, adding transit time and tightening container space. Drewry's World Container Index shows global container rates up 102% since mid-December.
Hazardous winter weather is also disrupting U.S. railroads.
Higher container freight and rail disruption raise the cost and reduce the reliability of moving grain and meal to export buyers, which can widen export basis and shift trade flows.
doi.orgJan 18, 2024Not enough comparable past events yet for a historical read.
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.
