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The International Grains Council reports that Houthi drone and missile attacks have begun to disrupt dry bulk grain shipments, not just containers. Grain and oilseed volumes through the Suez Canal fell 20% in December from November.
Diversions away from Suez lengthen voyages and raise freight costs for grain shipped from the Black Sea and Europe to Asia and East Africa.
world-grain.comArvin DonleyJan 25, 2024Not enough comparable past events yet for a historical read.
After 283 past bullish logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), and -0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
