Loading…
Container spot rates from China to the US East Coast jumped 23% in a week to over $9,000 per 40-foot box, the first time above that level. The Panama Spread between East and West Coast rates reached near $3,000, far above its usual level, as freight shifted away from West Coast ports.
Congestion and freight shifts at US ports raise logistics costs for imported and exported goods, with limited direct effect on feed commodity prices.
freightwaves.comZach Strickland, FW Market Expert &, Market AnalystJun 13, 2021Not 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.
