This has been reprinted from the Jan. 30 USDA Grain Transportation Report.
Ocean freight rates for shipping bulk grain continued to fall from the peak reached during the third quarter of last year, as the Chinese Lunar Year kicked in.
As of January 23, 2020, the rate for shipping a metric ton (mt) of grain from the U.S. Gulf to Japan was $45.50.
This was 1 percent less than the previous week and the beginning of the year, respectively, and 13 percent below last year’s peak reached on September 19, 2019.
The rate from PNW to Japan was $24.75 per mt, unchanged from the previous week, but 1 percent below the beginning of the year and 17 percent below last year’s peak.
The Lunar Year celebrations started on Saturday, January 25, and are expected to last until Saturday, February 8. Typically, trade volumes are very light during the period of celebrations.