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DTN analyst Elaine Kub reports that U.S. diesel and barge freight costs sit at the 30th percentile of their 10-year ranges, unit train car costs at the 24th, and ocean freight at the 28th. She notes roughly 14.2 billion bushels of corn and 4.4 billion of soybeans will move off fields over the next 10 weeks, on top of 1.7 billion bushels of wheat.
Freight costs currently sit low versus history, so harvest logistics are not a near-term squeeze on basis, though tight capacity at peak harvest could still lift freight and widen basis bids.
dtnpf.comElaine KubSep 13, 2017Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 153 past logistics events, DIESEL moved a median +0.4% over 5 sessions (52% higher; middle half -2.7% to +4.0%), and +0.2% over 20.
After 284 past neutral logistics events, CORN moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.4%), and -0.2% 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.
