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Second Quarter Corn and Soybean Transportation Costs Mixed

Increases in ocean and trucking rates were offset by decreases in barge and rail rates

Transportation costs for shipping corn and soybeans from Minneapolis, MN, to Japan, through the Gulf and the Pacific Northwest (PNW), were mixed during the second quarter of 2019, says the USDA Grain Transportation Report.

The overall costs of shipping corn and soybeans from the Gulf remained unchanged from quarter to quarter because increases in ocean and trucking rates were offset by decreases in barge and rail rates.

Higher trucking rates drove the increase in quarter-to-quarter transportation costs for shipping grain to Japan from the PNW.

Trucking rates for moving grain increased as demand for grain remained strong during the second quarter.

Ocean rates increased as well, from quarter to quarter, due to strong demand for coal and iron ore (July 25, 2019 Grain Transportation Report).

Although year-to-year transportation costs for shipping corn from the PNW were unchanged, the costs for shipping soybeans decreased for the same period.

Total landed costs for shipping corn from Minnesota to Japan, through each export region, increased from quarter to quarter. However, total landed costs decreased for shipping soybeans to each of the export regions.

Click here to read the full report.

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