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A U.S. Wheat Associates-commissioned analysis by Jay O'Neil describes the recent run-up in ocean freight rates that is squeezing grain importers. Dry bulk rates remain very high after a 13-year peak, with a shipbroker expecting stabilization in November and December before a seasonally soft first quarter of 2022.
Higher ocean freight raises landed costs for grain and oilseed importers, supporting delivered prices for feed ingredients and widening origin-to-destination spreads. Expected stabilization suggests freight pressure may ease into early 2022.
uswheat.orgNov 22, 2021Not enough comparable past events yet for a historical read.
After 163 past neutral logistics events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.1%), and -0.3% 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.
