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The USDA Grain Transportation Report for the week ending November 22, 2018 covers grain bid relationships, barge and rail indicators, and ocean rates. Rail loadings in the Pacific Northwest were reported down 19% from the same period a year earlier.
Reduced Pacific Northwest rail movement signals weaker grain export flows, which can pressure local basis and feed grain prices.
After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% over 20.
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.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
