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Ocean and barge freight rates have risen after Russia's invasion of Ukraine halted most Black Sea vessel traffic over two weeks. USDA data show US Gulf to Japan grain freight at $79 per mt as of March 10, up 12% year to date and 70% above the four-year average.
Higher freight widens the basis gap between US and South American or Black Sea grain, raising delivered feed grain costs for Asian and European buyers while supporting US export demand for corn and soybeans.
waterwaysjournal.netWaterways JournalMar 25, 2022Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 284 past neutral logistics events, Corn moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.4%), and -0.2% 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.
