USA Freight Rates soar due to Record Harvest

Unlike Russia and Pakistan, the USA has had a record grain harvest this year, and storage facilities are under pressure.  Barge and rail freight space to move the goods will be in high demand, which means that rates in the shipping and logistics industry are at an all-time high.  All covered storage facilities in the USA will be full, meaning that farmers would have to ris use outside storage facilties, and hope that the weather remains dry.  They may decide that it is safer to export immediately, even though freight rates are at their highest, so rail and freight companies will benefit from increased revenues.