# Ocean Freight Rates Reach Highest Level Since November

> USDA's Grain Transportation Report says ocean freight rates for bulk grains have risen five straight weeks. As of March 10, U.S. Gulf to Japan grain freight was $79 per metric ton, up 12% year to date and 37% year on year.

- Date: 2022-03-17 · published 2022-03-17T12:00:00.000Z
- Category: logistics · region US · magnitude medium
- Page: https://feedsoft.ai/events/42456-ocean-freight-rates-reach-highest-level-since-november
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Higher freight raises the landed cost of imported and exported feed grains and meal, widening basis and CIF spreads for buyers. Rising crude costs tied to the Ukraine war are the cited driver.

## Read by commodity

- WTI: bullish ▲
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-03-18 | [Rates climbing for ocean, barge freight as war in Ukraine continues - Supply Chain Council of European Union \| Scceu.org](https://feedsoft.ai/events/42463-rates-climbing-for-ocean-barge-freight-as-war-in-ukraine-continues-supply-chain.md) | +10.3% | +3.8% |
| WTI | 2026-04-14 | [US truckers' diesel spending hits record high on Middle East conflict \| Reuters](https://feedsoft.ai/events/19889-us-truckers-diesel-spending-hits-record-high-on-middle-east-conflict-reuters.md) | -9.6% | +0.2% |
| WTI | 2021-01-15 | [Record LNG prices push South Asian countries, including Pakistan, to ration gas - Pakistan - DAWN.COM](https://feedsoft.ai/events/49338-record-lng-prices-push-south-asian-countries-including-pakistan-to-ration-gas.md) | -2.3% | +11.2% |
| WTI | 2018-11-28 | [Oil prices rise over 1% on outage in North Sea, expected OPEC supply cuts](https://feedsoft.ai/events/62234-oil-prices-rise-over-1-on-outage-in-north-sea-expected-opec-supply-cuts.md) | +3.6% | -10.3% |
| WTI | 2017-12-11 | [Brent crude oil hits 2½-year high on Forties pipeline outage](https://feedsoft.ai/events/67645-brent-crude-oil-hits-21-2-year-high-on-forties-pipeline-outage.md) | +0.1% | +10.0% |

## Sources

- grainjournal.com: https://www.grainjournal.com/article/265954/ocean-freight

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.