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A USDA report shows ocean freight rates for US grain fell in the third quarter versus the prior quarter and prior year, with Gulf-to-Japan averaging $50.76/tonne. Rates on Gulf-to-Europe routes rose compared with the four-year average.
Lower freight costs improve the delivered competitiveness of US grain exports, though volatility from weather and the Black Sea situation keeps rates uncertain.
ofimagazine.comNov 8, 2023Not 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.
