Freight Futures market to watch today: East Region and Lanes
Total calm is the best way to describe the Trucking Freight Futures markets on Tuesday after a volatile and turbulent three trading sessions around the spot month contract roll from October to November. Of the seven lanes, only two in the East region saw any activity which drove change in the settlement prices. Nationally, the spot contract (FUT.VNU201911) settled unchanged at $1.489/mile. The spot West regional contract (FUT.VWU201911) and the South regional contract (FUT.VSU201911) followed suit and closed at $1.633 and $1.365, respectively. The East regional contract (FUT.VEU201911) closed fractionally lower to $1.468.
Two lanes in the East drew a somewhat tepid interest during Tuesday’s session. The CHI to ATL contract (FUT.VCA201911) dropped $0.01 or 0.53% to $1.892 and the ATL to PHI contract (FUT.VAP201911) rose a fraction to $1.581. The PHI to CHI contract (VPC201911), which has recently been drawing the most bullish interest, was unchanged on the day and finished at $0.930. In a reverse of the past three trading sessions, the LAX to SEA (FUT.VLS201911) and SEA to LAX (FUT.VSL201911) in the West finished unchanged on Tuesday to close at $2.105 and $1.160, respectively. In the South, the LAX to DAL contract (FUT.VLD201911) settled at $1.747 and the DAL to LAX contract (FUT.VDL201911) finished at $0.983. Both contracts were also unchanged on the day.