NASHVILLE, TENN. (RFD-TV) — Ocean freight rates for bulk grain shipments climbed from the second to the third quarter of 2025, tightening cost pressures on exporters moving corn, wheat, and soybeans out of the U.S. Gulf and Pacific Northwest. According to data from O’Neil Commodity Consulting, rates to Japan rose sharply quarter-to-quarter, even though year-over-year costs remain lower and remain well below the recent four-year average.
Third-quarter Gulf-to-Japan rates averaged $54.36 per metric ton, up 17 percent from spring, while PNW-to-Japan rates averaged $29.08 per ton, up 7 percent. Gulf-to-Europe rates followed the same pattern. Rising Chinese demand for iron ore, coal, and steel exports helped lift global vessel use through July and August, pushing grain freight rates higher.
Operationally, shippers also contended with supply-chain disruptions, including Argentina’s low Parana River levels that slowed grain loading and raised vessel costs in September, as well as Chinese Golden Week stockpiling.
Looking ahead, vessel supply has grown 3 percent year over year, which could moderate rates, but China’s renewed soybean purchases are expected to increase Panamax demand.
Farm-Level Takeaway: Higher ocean freight raises export costs just as global grain competition intensifies.
Tony St. James, RFD-TV Markets Specialist
Bangladesh recently pledged to purchase 700,000 tons of U.S. wheat and has also become a new buyer of American soybeans.
November 20, 2025 12:53 PM
·
Ethanol exports are expanding on strong demand from Canada and Europe, while DDGS shipments remain broad-based and supportive for feed markets.
November 20, 2025 11:12 AM
·
Dalton Henry, with U.S. Wheat Associates, joined RFD-TV to provide insight on what the pending trade frameworks may mean for American wheat growers.
November 19, 2025 04:11 PM
·
A massive rail merger could significantly impact North American agriculture and trade flows.
November 19, 2025 12:46 PM
·
Urea and phosphate see the biggest price relief from tariff exemptions, but nitrogen markets remain tight, and spring demand will still dictate pricing momentum.
November 19, 2025 12:31 PM
·
Hunter Biram, an extension economist with the University of Arkansas, is tracking Mississippi River water levels as grain shippers shift their focus to transportation following the wrap-up of fall harvest.
November 18, 2025 01:24 PM
·
