This article has been reprinted from the May 17 USDA Grain Transportation Report.
Ocean freight rates for shipping bulk grains have remained relatively stable for the past 6 weeks.
As of the week ending May 10, the rate for shipping a metric ton (mt) of grain, from the U.S. Gulf to Japan was $44 and from the Pacific Northwest to Japan was $24.50.
Over the past 6 weeks, rates have remained unchanged, fluctuating within a 1 to 2 percent range.
According to the May 10 Transportation and Export Report, by O’Neil Commodity Consulting, rates have remained soft because the much-anticipated improvement in cargo demand has not yet materialized.