Grain Truck and Ocean Rate Advisory, May 26, 2021
The key roles of trucking and ocean vessels in agricultural transportation-especially for shipping grain-necessitate timely collection and dissemination of standardized intelligence on these modes. The Grain Truck and Ocean Rate Advisory presents an overview of the transportation market for grain trucks, as well as ocean freight rates, for shipping bulk grain. Benefiting decision makers, this information affords insights into investments, policy, and market phenomenon. This report includes
... eport includes analysis of the following market factors: • Rates per mile. National and regional truck rates are based on a gross vehicle weight limit of 80,000 pounds. The rates per mile per truckload are reported for 25-, 100-, and 200-miles radiuses. • Truck availability. Reported by grain elevators, truck availability describes the ease of hiring truck capacity in the current quarter, compared to the same quarter last year. This metric is on a scale of 1 to 5, with degree of difficulty increasing as the number rises. • Current and future truck use. Current and future national and regional truck use are ranked on a scale of 1 to 5, with 1 being the lowest and 5 being the highest. The truck-use indices compare both current and future use in the current quarter to the same quarter last year. • U.S. diesel fuel rates. To capture this significant component of truck rates, this section presents the quarterly average national and regional diesel fuel prices as published by the U.S. Department of Energy, Energy Information Administration. • Ocean shipping rates. Ocean shipping costs affect the landed costs and, thus, the competitiveness of shipping U.S. grains overseas. This section presents quarterly ocean freight rates (in dollars per metric ton) for shipping bulk grain from the U.S. Gulf and Pacific northwest to selected foreign markets. The information presented in this publication is based on quarterly surveys of grain elevators conducted by North Dakota State University/Upper Great Plains Transportation Institute.