The FIE Input Cost Index came in at 146 this week, down 2 points from last week’s record of 148.
Freight eased. The Freightos Baltic Index dropped 3%, from $3,980 to $3,852.8/FEU, pulling the Freight component from 199 to 193.
Grain moved the other direction. CBOT September wheat gained 7.5% in a single week, the largest single-week grain move since this index launched in April. Corn and soybeans also closed higher. The Grain component ticked from 98 to 100.
Boxed beef came in at $371.21/cwt, the lowest reading in this index’s history for the second straight week.
The ISM Prices Paid index carries forward at 73.0 from June. The July reading releases August 3.
At 146, the index stays in High Pressure territory. Freight may be near a short-term ceiling. Grain is now the component with the most room to move in either direction.
