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The USDA Grain Transportation Report for the week ending September 26 showed the US average diesel price falling 7.5 cents to $4.889 per gallon, the first sub-$4.90 reading since March. Diesel fell in all 10 regions, with the Midwest down 1.14 cents to $4.881.
The report also covered a Federal Maritime Commission proposal on defining unreasonable refusal to deal by ocean carriers, which affects agricultural exporters' access to container space.
Lower diesel costs ease grain hauling expenses for US farmers and merchandisers, while container space restrictions could limit US agricultural export capacity.
doi.orgSep 29, 2022After 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.
