Freight Futures daily curve: 9/3

Freight Futures lane to watch today: CHI to ATL (FUT.VCA201909)

Friday marked the last trading day of the August futures contracts and the start of September as the spot month. This is known as the spot month “contract roll.” The National contract “rolled” into September (FUT.VNU201909) at $0.073 (5.2%) over August to $1.480 per mile. With Hurricane Dorian menacing the Southeast U.S. seaboard, the September East regional contract (FUT.VEU201909) settled higher by $0.232 (16%) to $1.717 on the roll. In the East, the September CHI to ATL contract (FUT.VCA201909) closed higher by $0.541 (31%) to $2.272 while the September ATL to PHI contract (FUT.VAP201909) ended up $0.154 higher to $1.934. With the Futures markets closed on Monday and the uncertainty around Dorian, Tuesday’s markets could be volatile. Total futures open interest remains at 65,000 miles.

In the West, the September SEA to LAX contract (FUT.VSL201909) was up over 14% on the roll to $0.934 while the September LAX to SEA contract (FUT.VLS201909) was lower by $0.12 to $2.046. In the South, a 3% gain in the September LAX to DAL contract (FUT.VLD201909) to $1.572 was offset by a 7.4% decline in the September DAL to LAX contract (FUT.VDL201909) to $0.893.

SONAR Chart: FUT.VCA201909, FUT.VAP201909