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USDA's weekly Grain Transportation Report says containerized grain exports have stayed above the five-year average all year and are on pace to beat the 2018 record. It also reports that an import surge has created container shortages and rising spot rates for US exporters.
Rising container rates raise the delivered cost of US soybeans and DDGS into Asian markets. Tight container availability can cap export sales even when overseas demand is strong.
doi.orgMatt Chang, Matt, Matt Chang, Matt, Kranti Mulik, KrantiDec 3, 2020Not enough comparable past events yet for a historical read.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
