Grain export sales dip as barge shipments rise 5%

The U.S. Department of Agriculture's latest Grain Transportation Report, released on November 21, 2024, reveals a complex picture of the nation's grain export and transportation sectors.

Export sales for the week ending November 7 showed varied results across major grain commodities. Unshipped balances of corn, soybeans, and wheat for the 2024/25 marketing year totaled 40.72 million metric tons, unchanged from the previous week but up 22 percent from the same time last year. However, net corn export sales saw a significant drop of 53 percent from the previous week, while soybean export sales decreased by 24 percent. Wheat export sales bucked the trend with a slight 1 percent increase.

In the rail sector, U.S. Class I railroads originated 28,160 grain carloads during the week ending November 9, marking a 1-percent decrease from the previous week but a 3 percent increase from last year. The report also noted changes in railcar bids, with November shuttle secondary railcar bids/offers averaging $75 below tariff, a $150 decrease from the previous week.

Barge movements showed positive momentum, with 781,550 tons of grain moved for the week ending November 16, representing a 2 percent increase from the previous week and a 5 percent rise from the same period last year. The number of grain barges moving downriver increased by 42 compared to the previous week, totaling 541.

Ocean freight also saw an uptick in activity, with 31 oceangoing grain vessels loaded in the Gulf for the week ending November 14, a 41 percent increase from the same period last year. Looking ahead, 61 vessels were expected to be loaded within the next 10 days, 22 percent more than the same period last year.

Shipping rates showed slight fluctuations, with the rate for shipping a metric ton of grain from the U.S. Gulf to Japan decreasing by 1 percent to $49.75, while the rate from the Pacific Northwest to Japan remained unchanged at $29.50 per metric ton.