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USDA's Grain Transportation Report shows US barge spot freight rates surging, with St. Louis rising to $34.75 per ton from $18.80 and the Upper Ohio River jumping to $49.70 per ton. Empty barges are tight and rising fuel costs are expected to push operators to raise rates further.
Barge rate spikes raise the cost of moving corn and soybeans down the Mississippi to Gulf export terminals, lowering farm-gate prices inland while supporting Gulf basis and feed ingredient costs.
grainjournal.comMar 17, 2022
world-grain.comSusan ReidyMar 18, 2022Not enough comparable past events yet for a historical read.
After 297 past bearish logistics events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.5% to +1.8%), and +0.7% over 20.
After 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.
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.
