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The USDA Grain Transportation Report for January 19, 2023 reviews rail service problems throughout 2022, including unfilled orders for empty grain cars and STB hearings on service. It also covers the potential national rail strike, Class I merger activity and Union Pacific's use of embargoes to manage congestion.
Rail congestion raises the cost and delays the delivery of grain to export positions and feed mills, which can widen local basis and freight costs for feed buyers.
doi.orgJan 19, 2023After 359 past bearish logistics events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% over 20.
After 297 past bearish logistics events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.5% to +1.8%), and +0.7% 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.
