U.S. grain transportation indicators showed positive momentum across multiple sectors last week, according to the latest Grain Transportation Report released by the Agricultural Marketing Service.
Class I railroads originated 24,144 grain carloads during the week ending June 7, representing a 1-percent increase from the previous week and a 10-percent jump compared to the same period last year. This volume also exceeded the three-year average by 7 percent.
The secondary railcar market showed declining premiums, with June shuttle bids averaging $100 below tariff for the week ending June 12, down $46 from the previous week and $128 lower than the same week last year. Non-shuttle secondary railcar bids averaged $50 above tariff, up $75 from the previous week but $200 below last year's level.
Barge movements totaled 732,900 tons for the week ending June 14, a slight 1-percent decrease from the previous week but 38 percent higher than the same period last year. The report noted 499 grain barges moved downriver, 37 more than the previous week, while 625 barges were unloaded in the New Orleans region, down 7 percent week-over-week.
Ocean shipping activity showed significant growth with 30 oceangoing grain vessels loaded in the Gulf during the week ending June 12, up 11 percent from the same period last year. Looking ahead, 34 vessels were expected to be loaded within the next 10 days, representing a 17-percent increase over the same period last year.
Shipping rates increased slightly, with the cost of moving a metric ton of grain from the U.S. Gulf to Japan rising 1 percent to $46.25, while rates from the Pacific Northwest to Japan increased 2 percent to $26.50 per metric ton.
Export sales data showed unshipped balances of corn and soybeans totaling 17.98 million metric tons, down 7 percent from the previous week but up 18 percent year-over-year. Wheat's unshipped balance for the new marketing year stood at 5.79 million metric tons, 27 percent above the same time last year.
