Railroad and Maritime Trade
Global apparel production is shifting, but the expected boost for North American cotton manufacturing has yet to materialize.
USDA says strong export demand and large grain supplies are increasing pressure on the nation’s transportation system.
The nation’s transportation network has played a critical role in connecting farmers with buyers for more than two centuries.
The July average climbed to a record 61 cents per mile, though lower diesel prices could bring relief next month.
Year-over-year grain movement remained strong despite weaker weekly rail volumes and lower ocean freight rates.
The average age of covered barges also rose to 18 years, compared with 13 years from 2012 through 2016.
USDA Deputy Secretary Stephen Vaden explains the shift is part of a larger review of underused federal office space.
NCBA is focused on hours-of-service regulations and support for increased truck weight limits, which would allow haulers to move more cattle with fewer trucks.
The agreement is expected to formally take effect on Friday, and markets will continue watching for signs that shipping traffic and global energy flows are returning to normal.
StoneX Director of Fertilizer, Josh Linville, joins us to discuss fertilizer market trends and risk management strategies to navigate an uncertain farm economy and fluctuating agricultural input costs.