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The Shanghai Containerized Freight Index hit a record 3,343.34 points on May 14, up threefold on the year. Container shortages and congested ports are pushing rates for Asia-US East Coast shipments to an all-time high of $7,378 per FEU.
Record container freight costs raise landed costs for imported feed ingredients and add to logistics bottlenecks. The effect on bulk grain and meal prices is indirect.
feedandgrain.comMay 19, 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.
