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The USDA's November 12, 2026 Grain Transportation Report said Class I railroads' weighted average November fuel surcharge reached an all-time high of $0.76 per mile, 231% above April 2026. Shuttle secondary market bids and offers were below tariff, and the Surface Transportation Board issued a policy statement on rail jurisdiction on November 9.
Higher rail fuel surcharges raise the cost of moving grain to export terminals, which tends to widen basis and pressure prices paid to farmers. Shuttle discounts show rail capacity is loosening in some segments.
indexbox.ioNov 12, 2026After 359 past bearish logistics events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% over 20.
After 297 past bearish logistics events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.5% to +1.8%), and +0.7% 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.
