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Ocean Freight Rates Reach Lowest Level in Months
USAgNet - 05/26/2017

Ocean freight rates for shipping bulk grains fell to their lowest level over the past 12 weeks.

As of May 18, the rate for shipping grains from the U.S. Gulf to Japan was $37.25 per metric ton, a 4 percent drop from March 9.

The rate from PNW to Japan was $19.50 per mt, an 8 percent drop since March 9.

The last time the Gulf-to-Japan rate was this low was March 3, and the PNW-to-Japan rate was the lowest since February 23.

Lower ocean rates were fueled by excess vessel supply and lagging demand for bulk shipments.


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