Dry Bit

Ahoy There!

USDA Grain Report parts of;

“Shipments of wheat to Africa and Mexico increased as did soybean shipments to Japan and the Netherlands. Mississippi River and Texas Gulf inspections increased 9 and 90 percent, respectively, due mainly to more shipments of wheat from each region. However, grain inspections dropped 45 percent in the Pacific Northwest.”

“During the week ending November 24, 35 ocean-going grain vessels were loaded in the Gulf, down 30 percent from last year. Fifty-eight vessels are expected to be loaded within the next 10 days, 8 percent less than the same period last year.”

“During the week ending November 25, ocean freight rate for shipping bulk grain from the Gulf to Japan was $57 per metric ton (mt), 1 percent less than the previous week. The cost of shipping from the Pacific Northwest to Japan was $31 per mt—3 percent less than the previous week.”

“Ocean rates for wheat shipped from the PNW to Japan increased just over 1 percent from the second quarter but dropped 10 percent from last year due to the slowdown in grain shipping (GTR, dated 11/10/11). Ocean rates for wheat shipped from the Gulf to Japan decreased slightly from the second quarter, and dropped 14 percent from last year due primarily to excess vessel supply and the slowdown in shipping of U.S. grain.”

”The United States exports approximately one-quarter of the grain it produces. On average, this includes nearly 45 percent of U.S.-grown wheat, 35 percent of U.S.-grown soybeans, and 20 percent of the U.S.-grown corn. Approximately 61 percent of the U.S. export grain shipments departed through the U.S. Gulf region in 2010.”

“In 2010, containers were used to transport 5 percent of total U.S. waterborne grain exports, and 7 percent of U.S. grain expo rts to Asia. Asia is the top destination for U.S. containerized grain exports—94 percent in 2010.”

Good Fortunes