# Ocean Freight Rates Hit Lowest Level in 12 Weeks

> USDA's Grain Transportation Report says ocean freight rates for bulk grain fell to their lowest level in 12 weeks. For the week ending October 31, the US Gulf to Japan rate was $49.50 per metric ton, down 2% week on week. The PNW to Japan rate was $27 per metric ton, down 4%.

- Date: 2019-11-07 · published 2019-11-07T12:00:00.000Z
- Category: logistics · region US · magnitude low
- Page: https://feedsoft.ai/events/56284-ocean-freight-rates-hit-lowest-level-in-12-weeks
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Lower freight narrows the delivered cost gap for exporters and reduces the cost of importing feed grains into Asia. The IMO 2020 sulphur rule from January 1, 2020 could tighten vessel supply and reverse this trend.

## Read by commodity

- OCEANFRT: bearish ▼

## Sources

- grainjournal.com: https://www.grainjournal.com/article/182769/ocean-freight-rates-hit-lowest-level-in-12-weeks

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.