Transportation costs to ship corn and soybeans from Minneapolis to Japan increased in the first quarter of 2026 compared to the previous quarter, according to the USDA Grain Transportation Report released this week. The increases affected both the U.S. Gulf and Pacific Northwest routes, though year-over-year comparisons showed mixed results depending on the shipping path.
Gulf route sees sharp quarterly increase
Transportation costs via the Gulf route jumped 19 percent for corn and 21 percent for soybeans from the fourth quarter of 2025 to the first quarter of 2026. The increases largely reflected the use of rail data instead of barge rates to account for the annual closure of the Upper and Mid-Mississippi River from late November to early March.
Year over year, Gulf route transportation costs rose 7 percent for corn and 4 percent for soybeans due to higher barge and ocean freight rates.
Total landed costs through the Gulf route reached $286 per metric ton for corn and $512 per metric ton for soybeans in the first quarter. Transportation accounted for 46 percent of corn’s total landed costs and 26 percent of soybean costs.
Quarter to quarter, total landed costs increased 9 percent for corn and 8 percent for soybeans. Year over year, corn landed costs decreased 3 percent due to lower farm values, while soybean costs rose 5 percent.
Pacific Northwest route shows modest gains
The Pacific Northwest route saw smaller increases, with transportation costs rising 3 percent for corn and 2 percent for soybeans quarter to quarter. Higher truck and ocean freight rates drove the increases.
Year over year, transportation costs via the Pacific Northwest fell less than 1 percent for both commodities because of lower truck freight rates.
Total landed costs through the Pacific Northwest route were $258 per metric ton for corn and $489 per metric ton for soybeans in the first quarter. Transportation made up 40 percent of corn’s total landed costs and 23 percent of soybean costs.
Quarter to quarter, total landed costs rose 2 percent for corn and 4 percent for soybeans. Year over year, corn costs fell 7 percent while soybean costs increased 4 percent.
Export activity mixed
As of June 11, outstanding export balances were up 30 percent for corn and 8 percent for soybeans compared to the same time in 2025. Cumulative exports increased 24 percent for corn but decreased 19 percent for soybeans from the same period last year.
The USDA estimates U.S. corn exports for marketing year 2025/26 at 84.46 million metric tons and soybean exports at 41.10 million metric tons.
The report showed transportation costs continue to represent a significant portion of total landed costs, particularly for corn shipments through both routes.
