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Ocean Freight Rates Moderate, but Uncertainty Remains

Ocean freight rates for bulk commodities, including grain, declined in the first quarter of 2025, according to the latest Grain Transportation Report. This seasonal drop was driven by weak global demand and an ample supply of vessel capacity, which has increased by 14% since December 2020. The report also notes uncertainty surrounding the impact of tariffs and restrictions on Chinese-built vessels, which could influence future freight dynamics.