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Corn+Soybean Digest

FREIGHT RATES WEAKEN

Ocean freight rates have reached one-year lows due to Chinese restrictions on iron-ore imports and a seasonal summer lull in the shipping market.

The weakness is expected to persist for at least the short term.

The drop in spot freight rates equates to a cut of more than 20¢/bu. in corn freight costs and nearly 22¢/bu. for wheat costs.

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