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The USDA Grain Transportation Report for May 18, 2023 shows US wheat transportation costs to Japan fell quarter to quarter and year to year. Lower ocean freight and trucking rates drove the decline, along with lower farm values.
Export volumes to Japan rose quarter to quarter but fell year to year.
Lower freight and landed costs make US wheat more competitive in Asian markets, modestly supporting export demand and wheat prices.
doi.orgMay 18, 2023After 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.
After 40 past neutral report events, Wheat (HRW) moved a median -0.9% over 5 sessions (38% higher; middle half -3.1% to +1.6%), and -0.5% 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.
