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Senator Kevin Cramer reported that BNSF and CP filed weekly grain car backlog status updates with the Surface Transportation Board. The summary covers North Dakota data over the last 10 weeks.
The STB has extended weekly reporting requirements through December 31, 2023.
Persistent grain car backlogs raise freight costs and delay shipments from the Northern Plains, which can widen local basis for wheat and corn. The impact on national prices is modest because this is a routine reporting update.
cramer.senate.govMay 26, 2023After 163 past neutral logistics events, WHEAT moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.1%), and -0.3% 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.
