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A Wisconsin grain marketer says railcar service has been very poor for eight to nine months, with some single-car orders waiting over three months. Container and barge rates have also risen, with barge rates near their highest in about nine years, as freight is fully booked to haul record U.S. grain exports.
Tight rail and barge capacity raises the cost of moving grain from the Midwest to export positions and feed mills, which supports basis and delivered prices for corn. Buyers should expect higher freight costs to persist while export demand stays strong.
brownfieldagnews.comLarry LeeJan 26, 2021Not enough comparable past events yet for a historical read.
After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% 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.
