Freight Futures daily curve: 4/9

Freight Futures contract to watch today: Philadelphia to Chicago (VPC)

The Trucking Freight Futures markets continued to move in a narrow range on Wednesday as the spot National contract (FUT.VNU202004) finished unchanged for the seventh consecutive session at $1.399 per mile. The East regional contract (FUT.VEU202004) slipped a fraction to $1.524, while the both the West regional contract (FUT.VWU202004) and South regional contract (FUT.VSU202004) finished unchanged at $1.424 and $1.249, respectively.

It was a mixed day for the individual lane contracts. In the East, the PHL to CHI contract (FUT.VPC202004, FUTC1.VPC) gained 0.3% to $1.029 and has been strengthening since the beginning of the month. The futures forward curve (FWD.VPC), however, is pointing to a rate decline over the coming months before rising again over the summer. The ATL to PHL contract (FUT.VAP202004) fell 0.2% to $1.861, and the CHI to ATL contract (FUT.VCA202004) finished unchanged at $1.683. In the West, a fractional gain in the LAX to SEA contract (FUT.VLS202004) to $1.938 was offset by a fractional dip in the SEA to LAX contract (FUT.VSL202004) to $0.910. The LAX to DAL contract (FUT.VLD202004) in the South settled unchanged at $1.327, while the DAL to LAX contract (FUT.VDL202004) slid nearly 0.2% to $1.170.

FreightWaves SONAR: Chart