This article contains the text of all of the journals that Trade Routes adds to the world. If you are interested in these particulars, read on; however if you prefer a more immersive and spoiler-free experience, you may want to stop here and find them for yourself in-game.

Each journal belongs to a different traveling merchant (or someone in their employ) and contains a flavorful take on their recent experiences that also happens to be laced with clues about items that can be profitably traded and where they are best bought and/or sold. By combining these clues with a little thought and educated guesswork, the player can piece together all of the routes on the long and short trade loops.

Ri'saad's Journal
found in Ri'saad's Khajiit caravan encampment, outside Markarth (SalviusFarmExterior01) or Whiterun (WhiterunExterior14)

We came to Skyrim with dreams of many opportunities to be found amidst the trouble and turmoil, and I am pleased that we were not mistaken.

For myself I have claimed the route from Markarth to Whiterun; it is not the most lucrative, but it spares our paws from the wretched snow cover in the north, and there is profit enough to be had in scrap and salvage from the deep elf ruins - the smiths of Whiterun prize the metal highly, having no ruins of their own to pillage.

Alas, I have yet found little profit to be had on the return. Atahbah has noted an unmet demand for ebony and quicksilver in the Reach, but neither can they be had in Whiterun for a favorable price. Perhaps Ahkari or Ma'dran has learned of a good source for these materials; I must remember to ask them.

Ma'dran's Journal
found in Ma'dran's Khajiit caravan encampment, outside Solitude (SolitudeExterior03) or Windhelm (WindhelmBridge01)

This war is a curse on the people here. On every soldier's face I can see their agony, fighting their own brothers, their own fathers, their own sons. But for us it has been a blessing. There can be no denying that.

When war broke out and the east and the west of this country stopped speaking with each other, they stopped trading with each other as well. As outsiders we cannot heal their wounds, but we can at least keep their goods flowing.

I suspect Oengul knows who buys his glass-of-the-mountain, and I am sure that Beirand knows its source. But Oengul needs the gold, and Beirand needs the glass. They do not ask, and I do not tell.

The trade must continue, and with the profit it brings, I may yet repay Ri'saad within my lifetime.

Ma'jhad's Journal
found in Ma'dran's Khajiit caravan encampment, outside Solitude (SolitudeExterior03) or Windhelm (WindhelmBridge01)

Today while Ma'dran napped, Oengul approached this one with a proposition. Top coin for orcish metal, he said.

Khajiit does not know why a Nord smith has sudden need for such material. Khajiit does not care. Khajiit smells opportunity. The strongholds in the west are said to have plenty. No doubt they dig it from the mountains within their walls, but they do not like to sell it to outsiders, it seems.

It can be had in the south also, this one knows. He has spied such ingots bound north on Ahkari's wagon. But only a few. And so Khajiit knows also the price in the south must not be so good, because Ahkari is clever. She would have bought more if the deal was good.

But Khajiit will keep searching. If this one can find a supplier, he could start his own caravan. No more would he have to follow after Ma'dran. That one is just a bleeding heart. Always on about the war, and the suffering, and his debt to Ri'saad. No head for business.

Ma'jhad can do better. Perhaps talk the price down. Perhaps locate another mine. Khajiit can smell the riches behind this door. Perhaps the door is locked, but locks do not trouble this one.

Ra'zhinda's Journal
found in Ma'dran's Khajiit caravan encampment, outside Solitude (SolitudeExterior03) or Windhelm (WindhelmBridge01)

When this one arrived in this frozen country with the others, she found it strangely beautiful. She still does, perhaps.

But it is difficult to appreciate the beauty of the land through the fog of its people's suspicion and mistrust. They will not even allow us within their cities. Phaw! May they all kill each other in their ridiculous war.

Perhaps when Ma'dran has made his coin and paid his debt, we may journey home with a wagon full of the blessed stone of the moon. What a fine prize that would be!

And a profitable haul, as well. It is very cheap in the capital, this one has noticed - at least it was, until the cursed dead of these barbarians began to rise and run amok.

Ahkari's Journal
found in Ahkari's Khajiit caravan encampment, outside Dawnstar (DawnstarWesternMineExterior) or Riften (RiftenCityNorthGateExterior)

I do not think I will ever acquire a taste for these northern drinks, but the Nords do love them dearly. Especially in Dawnstar, they seem to count the days until we return with another shipment of Maven's mead. And who can blame them? Working those docks and mines would be dreary enough already without the constant icy gale off the Sea of Ghosts.

I had hoped to have some proper Elsweyr skooma smuggled in by ship for the return journey, but the smugglers have become most uncooperative. It is a disappointment, but it makes no matter. Now I will simply wait.

Once they have established the market for skooma in the Rift, I will send Dro'marash and Kharjo to, shall we say, "negotiate" their retirement. Without a steady supply of skooma, the demand of the addicted will drive the price to the heavens.

And who will be there to meet this demand? Why, Ahkari, of course.

Ahkari will be there.

Dro'marash's Journal
found in Ahkari's Khajiit caravan encampment, outside Dawnstar (DawnstarWesternMineExterior) or Riften (RiftenCityNorthGateExterior)

A revelation! A spark of insight!

For weeks now, on every Fredas that we have camped in the north, I have witnessed Leigelf packing the week's yield into a crate. Each time, I have hailed him: "Leigelf, my good friend," I would ask, "whither goes this shipment?" And each time, his rude reply has puzzled me: "To the seller, cat," he would say, "same as the last one."

Although I myself have never observed another trade caravan to visit Dawnstar, I inferred, naturally, that Leigelf must have some contact who arranges the sale and transport of his goods.

And so I could never understand the anger in his voice - undetectable to most, perhaps, but clear as thunder for one with ears to hear. But what reason would a man have to be testy about business, when by all indications, his business is doing so well?

At first I thought it might be simple racism - a common fault among the natives - but the better I came to know him, the less likely that seemed to be. The mystery has been a fascination - a torment, even! - until this very night.

As I lay dozing in my bedroll, my mind adrift on thoughts of Elsweyr, suddenly I understood. All this time, he had been saying not "seller" but "CELLAR"! An easy mistake to make in the common tongue, especially for one unfamiliar with these Nordic accents.

Still, I should have seen it sooner. With the outbreak of war, trade has all but ceased here. No other caravan comes to Dawnstar. Rustleif is overstocked already. Leigelf can no longer sell his goods, so he simply stores them, hoping for better days ahead.

Now that I see his conundrum, I am certain that his stockpile could be had for a pittance, just as soon as we determine where to sell it. I must tell him on the morrow.

"Leigelf," I will say, "what a silly farce we have been playing, speaking past one another like two ships passing in the night! But worry yourself no more; Dro'marash will find a buyer for you, just as quick as your silver!"

I wonder if he will appreciate the pun. Nords are not known for their abundance of wit, after all.

Kharjo's Journal
found in Ahkari's Khajiit caravan encampment, outside Dawnstar (DawnstarWesternMineExterior) or Riften (RiftenCityNorthGateExterior)

Balimund said a funny thing to me today. I had mentioned the sad loss of my Moon Amulet, and he said the bandits probably thought it was made of moonstone.

Imagine that! These Nords are not a clever people - not so clever as Khajiit, anyway - but the ones who turn bandit must be dimwitted even for Nords to confuse simple silver for the gleaming stone of the moon. Still, it is useful to know that moonstone commands such a price in the Rift.

I asked why this would be so, and Balimund said it is simply not found in the hills of this region. He thinks it is mined somewhere in the west or north, but rare is the trader who would journey from so far lately, with such troubles about.

Methinks the source must be in the west, or perhaps the northwest, because I have seen no great abundance of stone-of-moon in Dawnstar either. Balimund said he used to have it brought over the mountains from Helgen - not the cheapest supply, he said, but good enough - though he hasn't seen his supplier recently. I hadn't the heart to tell him the rumors we've heard about Helegn.

I thought perhaps to mention all of this to Ahkari, or Ri'saad, but if truth be told I do not wish to tempt them with the chance of more coin to be made here in Skyrim. The sooner we exhaust the opportunities in these frozen wastes, the sooner we may depart for warmer lands.

Perhaps, even, for home.

Merchant's Journal
found by a ruined wagon south of Dragon Bridge, in western Hjaalmarch (POITundra22)

My wife keeps begging me not to make this run, and I keep telling her I've got no choice, it's got to be done. The Legion needs these supplies in Whiterun as soon as possible, and I'm not going to let them down. I've put them off as long as I can.

In fact, I've put them off so long now that I'm going to have to make it up to them if they're ever going to hire me again. So I figure I'll stop off in Morthal on the way back, and load up on cave mushrooms. The Legion needs all the potions they can get for the war effort, and ingredients are harder and harder to come by lately.

At least, that's what Angeline tells me. I never would have figured mushrooms for a rare commodity, but she says they don't grow much up in Haafingar, or not so much as in the swamp caves, anyway.

So on the morrow, I'm off. If I set out at first light, I should make Rorikstead by sundown, and Whiterun the day after that. I told the missus I'll be back in a week.

Now she's insisting on coming along, but I'm sure she'll see reason. She always does, bless her heart.

Velyn's Journal
found under a ruined wagon east of Stonehills, on the border between Hjaalmarch and the Pale (POISnowy03)

Yes, I think this will work. It took a little longer than I'd planned, but I think it will work out quite nicely.

We sought to study under the Master in Morthal, but he refused us. So we'll have to convince him that we can be useful.

Now if there's one thing I've learned as a conjurer, it's that we always need more empty soul gems. Half of our arts depend on them, after all, and you'd be amazed how fast a practicing conjurer can use up his supply. Even Calcelmo had to restock regularly and he's half the conjurer the Master ever was.

So I figure if we can just set him up with a routine shipment the Master is sure to take us on as apprentices.

First I went to Madena in Dawnstar, but that old minx is savvier than she lets on; in trade for soul gems, she wanted spell books. Alteration spells, in particular. Seems she's had a harder time getting them in from the College now with the war on.

'Course, she's not half so clever as she thinks - Winterhold's got soul gems even cheaper than hers, so if we've got to go that far anyway, why bother with the middleman? Or woman, I suppose.

So anyway, we get to the Frozen Hearth and have a chat with good old Nelacar. Sure, he tells me, he's got soul gems, but he owes Birna a favor - if we help her out, then he'll help us out.

So it's Birna's next, and I think I caught her dozing - must've been the first customer she'd had all afternoon. And as it turns out, the only customer that keeps her in business at all these days is the College, buying up all the silver and gold she can get her hands on, and most of the malachite and gemstones as well.

The silver I understand, of course - its magical properties can be useful in many experiments - but I can't imagine what the College wizards want with gold or jewels. Maybe they're good for something I don't know about. Or maybe they're just vain.

At any rate, we set off for Markarth, bought us a wagon, and loaded it up with gold and silver from the mines here. It wasn't as cheap as I'd hoped - seems there's been some trouble in the mines lately - but it'll do.

Then in the morning we'll start back to Winterhold, to sell the metal to Birna, to earn Nelacar's favor, so he'll sell us his soul gems, to bring to the Master, to earn his respect, so he'll accept us as students.

After all this, he'd better.

Ji'kaar's Journal
found in a ruined wagon east of Fort Sungard, near the Reach/Falkreath/Whiterun crossroads (POITundra09)

Fortune smiles once more upon Ji'kaar!

The trade from the marsh has been fruitful, yes, but this one tires of that cargo. The overlarge lichen and the death flower give no offense, but the fungus pods of the swamp, how they STINK! Zaria has said she can hardly keep them stocked, but who would wish to purchase so foul a growth?

And so Khajiit must find a new opportunity. Valga asks this one to bring mead, she must have all the meads, she says. Khajiit thinks sweetly scented mead would do quite nicely, yes, and Khajiit searches, but Khajiit does not find. Only the honey-brew and the black-thorn, and these Valga has already.

But today Khajiit finds a new customer. A band of orc bandits has claimed a mine of orc metal, but they have no buyer for their bounty. How fortunate for them that Ji'kaar knows just where to find one!

With the breaking of the dawn, this one shall fill his little cart with metal - pleasant, odorless metal - and begin the long march east. And on the return, perhaps a visit to Arcadia. That one's lichen and death flower are not so cheap as Lami's, but Khajiit prefers small profit to none.

And, this one must be stopping in Whiterun to lodge the night regardness; the roads grow too perilous for camping alone beneath the moons and stars. But Khajiit is quick and clever, and with the profit from this trip, this one will have saved enough coin to hire a guard.

And then, in another turn of the moons, this one can buy a proper wagon. By spring, an assistant, and a second guard - a caravan all his own! And then, at last, that fool Ri'saad will wish he had hired Ji'kaar.

Perhaps when this one is old and rich and ready to retire, he will hire Ri'saad to lead the caravan in this one's stead. Yes, that one will make a fine underling.

But first, one last lonely journey; and then, a guard. For company. And safety.

Gjalund's Journal (if the Dragonborn DLC is installed)
found on the Northern Maiden, docked in Windhelm (WindhelmDocksExterior01) or Raven Rock, Solstheim (DLC2RavenRock04)

I'm still not sure I like the merchant's trade, but I think I'm finally starting to get the hang of it at least. I didn't know how easy I had it in the beginning - before the mine ran dry, there were always enough orders for ebony and gemstones from Raven Rock to fill my hold.

Now it's mostly passengers coming to the mainland looking for work. Most of them can't afford to pay much for passage, but it's not as if I need the space for cargo these days. Not in that direction, anyway.

But Adril still finds the coin somewhere to pay for shipments to the island, and I've started doing a bit of extra business moving metals as well. Usually quicksilver, sometimes a bit of corundum or steel, though my margin hasn't been great on any of it.

I don't think I can do any better on the corundum - I'm already getting it straight from Goldenrock and they seem to want it more on Solstheim than anywhere, but the stuff's just not rare enough to justify the kind of markup I'd like.

But the quicksilver ought to be, if I could find a better supplier. Ma'dran always has some for me but I think he just gets it in Solitude and I know they don't mine it there, so it must be shipped in by someone else. If I could just cut out those middle men I could keep that margin for myself.

Hah, look at that that - Gjalund Salt-Sage worried about the margin on his goods. I guess I really am a merchant, now. And you know, I think that's alright with me. It's not so tranquil as fishing, but it's honest work and it keeps us fed and afloat. Can't ask for any more than that, these days.

Holmar's Journal (if Wyrmstooth is installed)
found in the East Empire Trading Company offices at the docks in Wyrmstooth (WyrmstoothDocks01)

I'm starting to regret signing on with Safia. She's done alright for us so far, but her bravado is liable to get us all killed sooner or later.

I know some of the others are having doubts too, though none of us would dare let on around her. As much as she says her crew are like family - and I think she does mean it - she'd still kill any one of us in a heartbeat if she thought we'd "gone soft."

So I've been looking for ways to make a little extra coin on the side, and then maybe when this war is over I can find a nice, quiet village and make a fresh start.

My first thought was to try smuggling some ebony and spellbooks in my footlocker. Spells are scarce on the island since they've still got no resident wizard, and I saw Sybille's got pretty good prices on her Illusion tomes.

Not quite good enough, though, and I couldn't talk her down any lower. I bet they're even cheaper at the College, but Safia would never brave those waters.

The numbers don't work for the ebony, either. Prices are up on the island now with the mine stopped, and Beirand doesn't want it bad enough even if they weren't. Not as bad as malachite, anyway, and I wouldn't know where to get my hands on that stuff.

And anyway, it's just too risky. All that stuff's too big and heavy to sneak aboard, and if Safia or the others caught me they'd take a cut of the profits - and maybe my head too, for holding out on 'em.

So it'll have to be something small and light, like maybe soul gems. I could tuck a few in my pockets easily enough, and I know a few mercenaries on Wyrmstooth who always seem to bring back loads of them whenever they go out adventuring.

But I'm still not sure I can sell them for enough to make it worth the risk. I asked Sayma and Sybille, but their offers were way too low, and the caravan cats weren't much better.

Maybe someone at the East Empire Company would be interested in doing business... I'll have to start hanging around their warehouse more while we're in port.

Discreetly, of course.

Wulf's Notebook (if Falskaar is installed)
found on Wulf's Boat, docked in Falskaar (FalskaarDocks)

Svea
lichen, fungal pods, deathbell - two crates
PAID

Henrik
assorted spell tomes - one crate
COIN ON DELIVERY

Njola wants distrib on mainland. Sold 1 case Thoring, said ptrns prfr Black Briar, won't pay full price next time. Need a prtnr to try frthr inland.