FreightWaves market data showed spot dry van freight rates posting sequential gains in May 2026 as outbound tender rejection rates trended higher, a leading indicator of tightening capacity across the for-hire trucking market. Rejection rates above 5% typically signal that carriers have enough options to decline shipper requests, pushing spot pricing higher.
The improvement in spot market conditions follows the gains in the ATA Truck Tonnage Index reported through April, where total freight volumes remain at their highest level since fall 2022. FreightWaves noted that the sequential rate gains are broad-based across major freight corridors, including the Midwest-to-Southeast and Texas-to-Southeast lanes, which had underperformed earlier in 2026.
Shippers with heavy spot market exposure are facing renewed cost pressure as contract renewals approach. Fleet operators and 3PLs are watching diesel price movements closely, as fuel surcharge adjustments continue to influence net rate calculations in an environment where base rates are already moving higher.