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USDA Grain Transportation Report data show third-quarter transportation costs for corn and soybeans were lower year over year through the Pacific Northwest and the Gulf. Low Mississippi River water levels drove barge rates up 104%, while falling truck and ocean rates cut PNW costs by 17% for corn and 16% for soybeans.
Lower ocean and truck costs make U.S. exports more competitive, but barge rate spikes from low water raise the cost of Gulf-bound shipments and weigh on Interior basis.
rrfn.comDon WickJan 4, 2024Not 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.
