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USDA's Grain Transportation Report shows Q3 2021 wheat transport costs rose from Kansas and North Dakota to Japan via both Pacific Northwest and Gulf routes. The increases were driven mainly by sharp rises in ocean freight rates, and total landed costs were up year over year.
Higher ocean freight raises the landed cost of US wheat in Asian markets, which can shift buyers toward other origins and weigh on US export wheat values.
doi.orgNov 1, 2021After 138 past bearish report events, Wheat (HRW) moved a median +0.0% over 5 sessions (50% higher; middle half -2.9% to +2.4%), and +0.5% over 20.
After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% 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.
