Global Trade
March 19, 2026
Taking the pulse of railroad freight
Written by Greg Wittbecker
Intermodal shipments fell 0.7% at 2,474,208 carloads as of March 7, according to the latest data from the Association of American Railroads. For non-intermodal freight, year-to-date volume ran 5.5% ahead of 2025’s pace.
The shipment data on primary metals ex Canada is not validating what people are saying about higher exports yet. This is a crucial data set to watch over the next quarter to see if Canada is responding the opportunity to increase market share while the Persian Gulf region is suffering.
US shipments:
- Coal shipments rose 7.7% for the week ended March 7, up 7.7% year on year and 6% for the year to date at 531,274 carloads. The postponement of closure of coal-burning power plants is telling in the data.
- Nonmetallic minerals up 1.1%, with year-to-date shipments up 5.3% at 237,765
- Grain shipments up a whopping 16.9% year on year for the latest week, reflecting the Chinese back in the market; year to date shipments are also very strong, up 21.1%.
- Motor vehicles and parts were 4.2% for the week, but year to date shipments are trailing 2025, down -0.4%
- Metallic ores and metals are up 1.1% on the week, year to date up 5.7%.
- Forest products were weak, down 1.4% for the week and are trailing 2025 by -5.4%, mortgages rates are not helping for single family starts.
Canadian shipments:
- Shipments of metallic ores and metals were down 7.4% for the week and down 4.9% year to date. We see this in the import data for January and February. Anecdotal evidence shows Canadian aluminum shipments are picking up.
- Motor vehicle shipments are down 3.9% for the week ended March 7 and down 15.5% year to date. The friction between the US and Canada on trade is taking its toll.
- Forest product shipments are down 9% for the week and 8.3% year to date. Canadian softwood exports to the US are suffering.
Grain shipments are up 4.1% for the week and 22.6% year to date. Chinese are buying ex Canada.
