Are grain markets seeing a squeeze?
Andrew Cox reports the differences being revealed between air cargo and airline passenger business recovery. Cox says cargo saw less of an impact from the pandemic so the recovery has been sharper than for passenger flights.
Echo Global Logistics has reported great growth in earnings, showing increases in volume, total revenue and truckload revenue.
LTL provider Old Dominion also posted great fourth-quarter earnings, posting a 76.3% operating ratio in Q4 and total revenue growth of 6.4%, with operating income soaring almost $70 million.
Hill and Vincent welcome Transportation and Intermediaries Association President and CEO Anne Reinke to the show to discuss how she is settling in to lead TIA. The association is a middle ground between brokers and carriers.
Reinke says she has spent her first few months at TIA building up trust between her team and creating a culture centered on teamwork. For the next year, Reinke plans to work with the federal government to encourage growth in the trucking industry.
Jared Flinn, managing partner at BulkLoads.com, joins the show to talk about grain markets and agriculture expectations for the upcoming spring. Flinn says it has been a banner year for farmers so far, especially in the grain and corn markets.
Some exporters are seeing problems getting goods across the Pacific, but Flinn says that is not the case for farmers. “Most of these guys are selling everything they’ve got,” he says, citing record purchases of U.S.-grown corn from China.
Flinn expects there to be a massive slowdown in agriculture sales through the next few months thanks to the massive sell-off currently going on.
You can find more Midday Market Update recaps and recaps for all our live shows here.
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