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Ocean freight rates for shipping bulk grain fell for three consecutive weeks through late January 2022. The U.S. Gulf to Japan rate was $62.50 per mt, 11% below early January, reflecting a seasonal dip in vessel demand around holidays.
USDA also announced a pop-up container yard at the Port of Oakland to ease agricultural export logistics.
Softer grain freight rates lower export costs for U.S. origin feed ingredients, a modest bearish signal for shipping costs, though the seasonal dip is expected to be temporary.
scceu.orgFeb 12, 2022Not 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.
