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USDA's Grain Transportation Report shows US grain stocks on March 1 were 10.3 billion bushels, down 7% year on year and 14% below the five-year average. Gulf-to-Japan grain freight was steady at $52 per metric ton and diesel averaged $4.105 per gallon.
Tight stocks and steady disappearance support grain prices, while stable freight and lower diesel costs ease transport expenses for feed buyers.
doi.orgApr 6, 2023After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
Not enough comparable past events yet for a historical read.
After 86 past bearish report events, ULSD / Diesel moved a median -0.9% over 5 sessions (37% higher; middle half -4.3% to +0.9%), and +0.4% over 20.
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.
